Trump Media shares surge 21% after Trump rally in New York City

[mahatmakanejeeves]

Source: CNBC

POLITICS
Trump Media shares surge 21% after Trump rally in New York City

PUBLISHED MON, OCT 28 2024 11:35 AM EDT
UPDATED AN HOUR AGO
Kevin Breuninger
@KEVINWILLIAMB

KEY POINTS
• Shares of Donald Trump's social media company shot up 21% on the day after the Republican presidential nominee's campaign rally in New York City.
• DJT stock surpassed its recent peak in mid-summer, which followed Trump nearly getting assassinated at a rally in Pennsylvania.
• Trump Media's recent gains have coincided with a shift in the Republican's favor on political betting sites such as Polymarket and Kalshi, even as polls show a neck-and-neck race

Shares of Donald Trump's social media company surged more than 21% Monday, on the heels of the Republican presidential nominee's campaign rally in New York City.

Trump Media stock closed $47.36 per share, eclipsing its recent peak in mid-July, when the company's market value soared after Trump was nearly assassinated at a rally in Pennsylvania.

That spike was followed by a major sell-off that hit bottom in late September, when DJT stock scraped below $12 a share.

But the Truth Social operator recovered all of those losses in October, as the election between Trump and Vice President Kamala Harris, the Democratic nominee, entered its final weeks.

{snip}

Read more: https://www.cnbc.com/amp/2024/10/28/djt-trump-media-stock-election-rally-nyc.html

[spooky3]

1. Money laundering. Nt

[TwilightZone]

2. I didn't realize until today that it had gone back up recently.

People stopped posting about it all the time. I guess that should have been a sign.

Rich people hedging their bets, it seems. Another reason to ensure that Trump loses - the stock will almost surely drop and they'll take a bath.

[Klarkashton]

3. This "surge" also coincided with Musk's big involvement with this hate fest.

[walkingman]

4. The nastier he is the more his supporters like him. I wonder who is buying the stock?

[FakeNoose]

5. Very small, short-lived blip

After he is soundly drubbed next week, everyone will go ... "Donald Who?"

[TwilightZone]

7. $10 bump in one day on a $39 stock is not "small"

It's currently at four times its low last month.

Rich people are apparently hedging their bets, banking that he'll win. Another reason to ensure he loses - it'll likely drop and they'll take a bath, too.

[LymphocyteLover]

22. there's a lot of people with deep pockets trying desperately to prop up this orange motherfucker and hoping it gets

him elected and god help us that it doesn't.

[DJ Porkchop]

6. Cool! Let's short it again! n/t

[Scalded Nun]

8. A can see a lot of kid's college funds going 'poof' in the near future!

[Lulu KC]

9. What?

That is all. WHAT?

[Javaman]

10. And when he loses, it will tank.

And fool and their money…

[Gary 50]

11. This is Musk and maybe a few other fascist billionaires driving up the price.

The real value of the shares is about a nickel. It will go bankrupt like most other trump businesses.

[Bernardo de La Paz]

12. It's the "brand value" and possibly money laundering

Other posters have spoken to the laundering. Below, I use absolute terms when I mean things like "little, very little, or none".

The company has no product: site visits and engagement is declining from already low numbers.

The company has no advertising revenue and no prospects because no product.

The company has no research & development expenditures despite claiming to be on the verge of rolling out a streaming service.

The company has no marketing expenses to report.

What does the company have? It has the "Trump" brand. The people buying the stock think that he will win, because they are a cult member or have been swayed by the "red wave" thumb-on-the-scale pollsters. They also think that if he wins his brand will suddenly become gold and they can cash out bigly.

[DallasNE]

13. Why Else Would DJT Stock Surge 21% Today

Unless the stock speculators think the rally in Grand Central Station sealed the deal for Donald Trump. I know, the broader market did not respond in kind.

Of course, a billionaire could have jumped in and juiced the stock but they will lose their shirt when it settles back down so why would they want to throw away money like that?

[Hieronymus Phact]

16. They probably did

Look at it as a dark campaign expense: They're all about the Bandwagon effect, and this was probably supposed to be juxtaposed with talk of trumps "masterful speech" but it all went to shit.

[Bernardo de La Paz]

20. Billionaire can goose it up in 1st half hour and sell slowly rest of day

A billionaire or other can do something like this:

Make three large buys in the first half hour to spark a rally. Day traders and cult members see it and jump on the bandwagon and take it higher. Then the gooser can slowly dribble out sales through the day to get back their money without spooking the market. Volume yesterday was 110 million which is 50 percent more than all the shares in the public float and many of those are held by magas and amateur investors without selling. So there is a lot of churn, mostly by day traders likely; shares sold and bought in dozens of transactions in a day.

After a few days it can become a bubble. I think it is still in the bubble phase and it will deflate starting Nov 6 and might begin to deflate during this week in advance of the election.

It might crash dramatically or might float in the air without support for weeks. But I think the attraction might be too much for tRump to resist selling or maybe this is his plan. He might sell bigly before the election to cash out. A bunch of big unit sales would crash the stock. A long slow dribble of two million shares in a day would not be noticed much at these volume levels, but would put definite downward pressure on the exuberance. That would still be a cashout of $100 million dollars a day at these price levels.

Up 11 percent in Before Hours premarket today.

[mdbl]

14. Only disgusting people would buy Hitler Media shares.

[BradBo]

15. Sure know where all the racists are.

[cadoman]

17. still down significantly from highs

He can enjoy his Nazi bump for now but it'll crash eventually.

There's nothing _there_ when it comes to this company. Just a small, diminishing pile of cash that has no relation to the market cap.

[onenote]

19. It's up over $35 from its lowest point. Down $19 from its highest point.

[Mysterian]

18. Reel in the suckers!

There's more born every day! LOL!

[Yo_Mama_Been_Loggin]

21. Pump and dump?

[oasis]

23. Trump, Trump Media and Crooked Crypto all

going down hard after 11/5.