Trump Media & Technology Group Corp. (DJT) is experiencing a surge in interest, driven by speculation and discussions on Reddit. Users on the platform are buzzing about the potential for a significant price increase, with one user predicting a rise to $65 around the inauguration period. The stock's recent technical indicators, such as a golden cross and favorable MACD setup, are also fueling optimism. Additionally, there are rumors of a potential investigation into naked short interest, which could further impact the stock's trajectory.
The anticipation surrounding Trump's inauguration on January 20th is also contributing to the stock's upward momentum. Reddit users are discussing the potential for a "Trump Pump," with some speculating that stocks associated with Trump could see a boost as the date approaches. This sentiment is echoed by discussions about the broader market implications of Trump's presidency, with users considering investments in sectors like military defense and cyber security.
As of 10:00 AM on January 6th, DJT's stock price has risen by 3.60% to $35.87, compared to the previous close of $34.62. Despite being early in the trading day, the volume is relatively low at 1,984,138 shares, representing just 4.95% of the average daily volume of 40,123,591 shares.