stocks Trump Media It rose nearly 19% on Tuesday Truth Social the operator continues its fourth consecutive day of gains – the longest positive price streak since June.
DJT shares at one point it rose to $22 in extremely heavy trading, nearly 90% above the company’s September 24 intraday low of $11.75 per share.
Trump Media ended the trading day up 18.5% at $21.80 per share.
But stock price That remains well below the $79.38 peak that the stock reached during the company’s trading debut in late March. Nasdaq.
More than 45 million DJT shares were exchanged on Tuesday, more than triple its 30-day average volume.
The rally has accelerated since Saturday, the majority owner of the company Donald Trumpheld a presidential campaign rally near Butler, Pennsylvania, where he was nearly killed at the rally on July 13.
Trump’s return to the site has gathered thousands of supporters Tesla CEO Elon Muskwho endorsed the GOP nominee minutes after the assassination attempt.
Musk, the mega-billionaire who owns social media site X, told the audience that Trump “must win to preserve democracy in America.”
But the stock price surge comes despite news about Trump Media, which would normally raise concerns about a company’s well-being.
On Thursday, the company announced that its chief operating officer, Andrew Northwallhe resigned at the end of September.
Neither Trump Media nor Northwall said why he resigned, and the company has not announced a successor.
Trump Media product director Sandro de Moraes has also left the company, according to Truth Social.
ProPublica In addition to de Moraes, Trump reported last week that several lower-level employees had recently left Trump Media.
A filing with the Securities and Exchange Commission on Thursday also revealed that Trump Media is transferring about 800,000 shares of common stock to ARC Global Investments II, an early investor in the blank check firm that took Trump Media public through the merger.
This step happened after the judge’s decision of Trump Media breached the share agreement with ARC Global.
In late September, a company controlled by two Trump Media co-founders who own more than 5% of DJT shares sold nearly all of its 11 million shares.
The sale came shortly after the company’s early investors, including Trump, were allowed to sell their shares.
Trump owns about 57% of Trump Media — a stake worth about $2.5 billion as of Tuesday. The former president promised not to sell his shares.
Trump Media posted a net loss of more than $340 million on revenue of less than $2 million in the most recent two years. quarterly reports. Its Truth Social platform attracts only a fraction of the audience of established social media giants, including X and Facebook.
Despite its lack of profits, the company boasts a market capitalization of more than $4 billion.
Some analysts see Trump Media as a way for retail investors to back Trump or bet on his chances of defeating the Democratic presidential nominee. Kamala Harris in the November elections.