Trump Media Stock (DJT) - A Possible Positive Surprise
ForbesSep 24
US: Markets Rise After Election, Trump Media Spikes Before Dropping
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The Facts
The value of shares in Trump Media & Technology, which trades under the ticker symbol of DJT, on Wednesday spiked 35% at the opening bell one day after Pres.-elect Donald Trump defeated Vice Pres. Kamala Harris in the US presidential election.
After the initial spike, which increased the company's market value to $9B, the stock cooled before closing approximately 5.9% higher than Wednesday morning at $35.96. The change left Trump's shares with a value on paper of $4.2B.
The Spin
Republican narrative
The return of Trump to the White House is going to propel the US into a new golden age, and this surge in stocks is just the beginning. Trump's a vocal proponent of cryptocurrency and the US will reliably be a leader in that realm under his presidency. America is looking forward to a safe, prosperous future.
Democratic narrative
The billionaires and crypto companies are getting a return on their investment, after spending hundreds of millions to boost Trump. They're looking forward to Trump's deregulatory policies that will do nothing to benefit average Americans. With Trump's election victory already being reflected in a stock price jump, it's obvious the era of grifting is back.
