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Key Takeaways
- Shares of Trump Media and Technology Group jumped with former President Donald Trump set to win re-election to the White House.
- The social-media company’s shares were recently trading at around $40, more than 17% above Tuesday’s close.
- The move would extend a jump off fall lows below $12 that has been marked by big swings in the company’s value.
Shares of Trump Media and Technology Group (DJT) jumped in early Wednesday trading with former President Donald Trump set to win re-election to the White House.
The social-media company’s shares were recently trading at around $40, more than 17% above Tuesday’s close. The move would extend a jump off fall lows below $12 that has been marked by big swings in the company’s value.
The company, owner of the Truth Social platform, last night reported its latest quarterly financial results, turning in third-quarter revenue of $1 million and a net loss of a bit more than $19 million. In its press release, executives cited a “legion of retail investors” who own the shares.
The company “continues to explore additional possibilities for growth such as potential mergers and acquisitions with companies that would benefit from Trump Media technology and branding, including in the realm of fintech,” CEO Devin Nunes said in a statement.
Trump is majority owner of the company’s shares.
Update: This article has been updated to reflect new share-price information.