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Trump Media’s Stock Surges as Investors Grow More Bullish on His Chances of Winning U.S. Presidential Election
Trump Media investors have rallied behind the stock as betting sites have increased their odds that Trump will win the U.S. presidential election.
TMTG, which has posted net losses to date, has not released any notable financial news in the past three weeks that would have spurred the jump in the stock price. Shares in TMTG began trading on Nasdaq on March 26, 2024, under the ticker symbol “DJT” following the company’s merger with DWAC. TMTG calls Truth Social a “safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.” Trump formed TMTG in 2021 after the former president had been kicked off Twitter (now called X), Facebook, Instagram, YouTube and other internet platforms, which said he had violated prohibitions against inciting violence in connection with the Jan. 6, 2021, attack on the U.S. Capitol.
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