Trump Media & Technology Group Corp. (DJT) is experiencing a surge in its stock price, driven by a combination of market signals and political momentum. Analysts at J&M Securities recently upgraded their price target for DJT from $60 to $90, citing the company's growing potential in media and technology. This upgrade has bolstered investor confidence, contributing to the stock's upward movement. Additionally, Ortex has issued a short squeeze alert for DJT, indicating a high likelihood of short sellers being forced to cover their positions, which could further propel the stock price.
On Reddit, discussions are buzzing with speculation about a potential short squeeze, with one user noting, "DJT’s short squeeze score has risen dramatically, climbing from 76 to 89." Another user highlighted the political influence, stating, "Trump has announced that all major presidential announcements will be made exclusively on Truth Social," which could drive significant traffic and engagement to the platform, enhancing DJT's long-term outlook. Despite skepticism about the company's fundamentals, the anticipation of Trump's influence and strategic moves is fueling bullish sentiment among retail investors.
As of 10:00 AM on January 13, DJT's stock is trading at $37.20, up 5.36% from the previous close of $35.31. Despite being early in the trading day, the volume is relatively low at 2,992,353 shares, representing just 7.87% of the average daily volume of 38,012,408 shares.