DJT stock jumps as former president declares victory

Dow Jones2024-11-06

MW DJT stock jumps as former president declares victory

By Steve Goldstein

Trump Media & Technology shares soared on Wednesday morning after its majority shareholder, former President Donald Trump, declared victory.

Trump Media & Technology stock $(DJT)$ jumped 44% to $48.78 in premarket trade. The stock has largely tracked the fortunes of Trump in the polls heading into the election.

Its 52-week high was $79.38, so even with the gains the stock is well below record levels.

The company's valuation runs far in excess of the financials. In the third quarter, it lost $19.2 million on $1 million in revenue and $4.7 million in interest income. The company did have $672.9 million in cash and short-term investments. Its market cap on Tuesday was $6.8 billion.

Trump personally has nearly 115,000 shares in the company, according to FactSet.

-Steve Goldstein

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

November 06, 2024 04:24 ET (09:24 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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