Trump Media & Technology Group Corp. (DJT) saw its stock rise by 2.23% to close at $35.31 on January 10, 2025, despite a challenging broader market environment. The stock opened at $34.09 and reached a high of $35.83, with a notably low trading volume of 6,139,179 shares, just 15.86% of its average. The upward movement was largely driven by the resolution of Donald Trump's legal issues, as he received an "unconditional discharge" in his New York "hush money" case, which investors interpreted positively. This legal outcome, perceived as a significant hurdle cleared, spurred investor confidence and buying activity in DJT shares.
Additionally, the potential U.S. ban on TikTok, a rival to Truth Social, added speculative interest in DJT. The Supreme Court's consideration of the TikTok case provided a backdrop for social media stocks, including DJT, to reverse early losses and gain traction. Trump's unexpected support for TikTok, despite his previous stance, also played into the day's narrative, suggesting strategic shifts that could impact DJT's competitive landscape.