Shares of former President Trump’s social media company have surged in the past two trading sessions after falling for several weeks.
Joe Raedle/Getty Images
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Joe Raedle/Getty Images
Shares of former President Trump’s social media company have surged in the past two trading sessions after falling for several weeks.
Joe Raedle/Getty Images
Shares of Trump Media & Technology Group jumped 26% on Thursday, marking their second straight day of strong gains.
The rally over the past two days marks a rare recovery for the company behind the Truth Social app, which trades under the stock symbol DJT. Shares rose more than 15% on Wednesday.
Trump Media shares are still down sharply since the spectacular rallylaunched on the stock market at the end of March. The decline wiped out billions of dollars in value, including former President Trump.
However, the stock’s rally over the past two days has been cheered by Truth Social members who claim to be small shareholders.
“In a few years, I will be really rich or really broke. I have chosen to believe that in the end free speech and Truth will prevail,” @snowblazer said on Wednesday afternoon. “I have no intention of selling anytime soon. It’s been a painful journey but my faith is still strong!!”
Experts warn about this stock
Company on Wednesday also provide instructions to small shareholders on Wednesday on how to make it harder to short Trump Media stock.
Short selling is when investors bet that a stock will fall in price, and many small shareholders have blamed this bet for the company’s poor performance since its launch. transaction.
Despite the latest stock gain, professional investors warn the outlook is not good for Trump Media, putting some small investors holding the stock at risk.
“It was only a matter of time before they became disillusioned,” said Julian Klymochko, CEO of Accelerate Financial Technologies.
Trump Media recently said it would issue additional shares. The company also said it would launch a live video streaming service, which investors considered a risky and expensive bet.
