DJT Stock Soars 50%. Trump Made Billions on Election Night. -- Barrons.com-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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DJT Stock Soars 50%. Trump Made Billions on Election Night. -- Barrons.com

Dow Jones2024-11-06

By Callum Keown

Trump Media & Technology Group stock surged around 50% in premarket trading as Donald Trump declared victory in the presidential election.

DJT stock was up 47% to $49.81 early Wednesday. That would be the largest one-day percentage on record since the company merged with Digital World Acquisition Corp. in March.

Trump's 57% stake in the company was valued at $3.9 billion at the close Tuesday, according to FactSet data. With a 47% jump, if it holds through premarket trading and regular hours, the value of his stake would jump to $5.8 billion.

The stock has acted as a proxy for Trump's odds of winning the election in recent months and that trend has been even more pronounced in recent days. The shares fell 34% over the five trading days through Tuesday as investors began to have doubts over whether Trump would win the presidency.

But he was on the brink of being confirmed as the winner early Wednesday after the Associated Press projected that Trump will win Pennsylvania, all but assuring victory. It takes him to 267 electoral votes, three short of the 270 needed to win the White House.

With the stock still below its Oct.29 level even with the 43% rise overnight, the shares could climb even higher as markets open Wednesday.

Write to Callum Keown at callum.keown@dowjones.com

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

(END) Dow Jones Newswires

November 06, 2024 04:08 ET (09:08 GMT)

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

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