Trump Media & Technology Group Corp. (DJT) is experiencing a rise in its stock price today, likely driven by investor anticipation of a speculative rally leading into Inauguration Day on January 20, 2025. Analysts have noted that such political events often spark buying activity, as investors speculate on potential policy impacts under President-elect Donald Trump. The stock has been volatile throughout 2024, with significant fluctuations around key political events, and today's movement may reflect similar speculative behavior.
Additionally, the stock's performance is being closely watched due to Trump's substantial stake in the company. Despite concerns about potential share sales, Trump has maintained his 114 million-share stake, which investors view as a stabilizing factor. The market remains cautious, however, as any changes in Trump's holdings could impact the stock's trajectory. The company's financial fundamentals continue to be a concern, with its value heavily tied to political relevance rather than traditional revenue metrics.
As of 9:47 AM on December 31, DJT's stock is trading at $35.20, up 3.18% from the previous close of $34.12. Despite being early in the trading day, the volume is relatively low at 901,819 shares, representing just 2.25% of the average daily volume of 40,062,850 shares.