Shares of Trump’s media company surged in pre-market as election results hinted at his imminent victory in the closely contested race. Trump Media & Technology Group saw a remarkable 50% increase, pushing the stock price above $51 per share before the opening session on Wednesday.
The uptrend continued as Trump secured a solid lead in the Electoral College, narrowing Vice President Kamala Harris’s path to victory by winning crucial swing states like North Carolina, Georgia, and Pennsylvania.
Despite an unexpected earnings announcement post-market hours showing a $19.2 million loss in the third quarter, the stock, serving as an indicator of Trump’s re-election chances, rallied due to the former president’s favorable electoral position.
Although the shares experienced volatility throughout the election period, fluctuating alongside Trump’s political fortunes in the tight race against Kamala Harris, it managed to surge over 105% in the last month.
During the latest trading session on Tuesday, marked by the candidates’ final campaign efforts, the stock witnessed an 18% surge at its peak before eventually closing with a 1.2% decline.
