Trump Media Stock Managed To Triple its Valuation in Month
Shares of Donald Trump’s social media venture have more than tripled in the five weeks since they bottomed out after the expiration of a lockup period that prevented insiders from selling the stock.
Tweet on Trump’s media stock fluctuation
Trump Media Stock is up 214% since Sept. 23, trading at more than $38, the highest in over three months.#trump #media #stocks pic.twitter.com/h2L2SUGIqP
— The_Journalbiz (@the_journalbiz) October 25, 2024
Bloomberg chart
Donald Trump’s stake is now worth roughly $4.4 billion
Truth Social owner trades like Trump election betting proxy
Trump Media & Technology Group Corp. is up 214% since Sept. 23, trading at more than $38, the highest in over three months.
The stock had tumbled into the six-month lockup expiration on concerns that Trump and other insiders would cash out after its unexpected rally earlier this year.
The Republican presidential candidate owns nearly 115 million shares valued at roughly $4.4 billion based on today’s price.
Trump Media, which owns the X-lookalike social media platform Truth Social, has at times traded like a proxy for sentiment of Trump’s perceived chances of winning the US presidential election on Nov. 5.
