Shares in Trump Media & Technology Group (DJT), the parent company of the social media site Truth Social, soared by more than 14% on Tuesday on the Nasdaq in New York, just on the day of the presidential election that could return Donald Trump to the White House.
Its shares soared by 14.82% at 7:10 p.m. Spanish peninsular time, to $39.43 (36.06 euros), although they had already accumulated a rise of more than 13% the previous day.
DJT’s share price has been very volatile since the firm went public last March, when it quadrupled its value in five weeks and then fell by 41% in just three days.
DJT’s stock performance has been used by brokers as a measure of Trump’s chances of winning the election, so its value is not considered to be linked to the financial health of the company, which is much smaller than rivals such as X, TikTok or Instagram.
For the moment, the latest polls pointed to a technical tie between Trump and his rival, Kamala Harris. However, bookmakers have recorded a significant increase in the tycoon’s chances of victory.
