:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2181956757-156fba79f55744cf99fd92d51893617b.jpg "Former President Donald Trump in North Carolina on Wednesday.")
Chime in Somodevilla / Getty Images
Former President Donald Trump in North Carolina on Wednesday.
Key Takeaways
- Shares of Trump Channel & Technology Group, majority owned by former President Donald Trump, the Republican nominee, finished Friday in the red.
- They’ve this week risen as shrill as 40% above last Friday’s close near $39 and slid more than 20% below it.
- That’s intimated big swings in the market value of Trump’s majority stake, which nevertheless is worth billions of dollars.
The last ages of the U.S. presidential campaign have been plenty dramatic for the candidates–and for the stock linked with their political—and, partly, intimate—fortunes.
Shares of Trump Media & Technology Group (DJT), majority owned by former President Donald Trump, the Republican office-seeker, finished today’s session down 13% to less than $31. They’ve this week risen as far up as 40% above last Friday’s close near $39 and fallen more than 20% below it, connotation big swings in the market value of Trump’s majority stake, which nevertheless is worth billions of dollars.
And that’s on small in the way of actual news about the company, which operates the Truth Social platform. Instead, traders have seized on the gag as a way to wager the outcome of the presidential election, seen broadly as a race between Trump and Democratic Vice President Kamala Harris. (There was at least one engrossing report Friday: The New York Post said some investors believe Tesla (TSLA) CEO and X owner Elon Musk mightiness look to acquire the company.)
Polls generally point toward a close contest ahead of Election Day. On some hint markets, speculators seem to more strongly believe in the likelihood of a Trump win: On Polymarket, for example, traders have in a general way backed a more-than-60% likelihood of a Trump victory for most of this week; those odds were a bit tone down on some other platforms. (Here’s Investopedia’s guide to elections betting,)
Meanwhile, Trump Media shares acquire moved dramatically, with trading in the stock subjected to volatility-based halts multiple times this week. At one trait, the shares traded at levels not seen since the high-flying days after their debut on public markets earlier this year.
For now, they’re back all July levels after climbing off September lows.
Update: This article has been updated to reflect raw share price information and to incorporate the New York Post article.