{"id":114194,"date":"2024-10-14T23:06:57","date_gmt":"2024-10-14T16:06:57","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=114194"},"modified":"2024-10-14T23:06:57","modified_gmt":"2024-10-14T16:06:57","slug":"trumps-social-media-stock-is-making-an-epic-comeback-as-election-nears","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=114194","title":{"rendered":"Trump\u2019s social media stock is making an epic comeback as election nears"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-editable=\"content\" itemprop=\"articleBody\" data-reorderable=\"content\">\n<p>\n    <cite class=\"source__cite\"><br \/>\n      <span class=\"source__location\" data-editable=\"location\">New York<\/span><br \/>\n      <span class=\"source__text\" data-editable=\"source\">CNN<\/span><br \/>\n        \u00a0\u2014\u00a0<br \/>\n    <\/cite>\n<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252c1a5000vpcqmgvbzd718@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Former President Donald Trump\u2019s social media company is on fire on Wall Street. It\u2019s all about Trump\u2019s perceived chances of retaking the White House.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr00063b6mcmn095ua@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Up until very recently, Trump Media &amp; Technology Group had been in <a href=\"https:\/\/www.cnn.com\/2024\/09\/11\/investing\/trump-stock-debate-truth-social\/index.html\">meltdown mode<\/a>. Its share price dropped to a record low of $12.15 on September 23, marking a stunning 82% crash from its high.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr00073b6m2rnivrys@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            But the owner of Truth Social is enjoying a massive rebound of about 120% in the three weeks since, more than doubling its share price. It spiked nearly 50% last week alone and is up another 5% on Monday.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr00083b6mpmtxsg8v@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            It\u2019s a remarkable turnaround, even for a notoriously-volatile stock that has been described as a meme stock on steroids.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr00093b6mcep98i08@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump Media did not announce a sudden revenue stream or a flashy new product that could explain the move. It didn\u2019t land an endorsement from Wall Street analysts or a major shareholder.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000a3b6mhu460lxc@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Instead, the turnaround has been fueled by the perceived odds of Trump winning in November. Trump Media has long served as a way for traders to bet on the election.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000b3b6mk477p441@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The race for the White House <a href=\"https:\/\/www.cnn.com\/2024\/10\/09\/politics\/democratic-anxiety-kamala-harris-2024-election\/index.html\">remains incredibly close<\/a> and could still go either way. But the betting markets and some recent polls have shifted somewhat in Trump\u2019s favor.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000c3b6mbbrczkpf@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cIt\u2019s really simple. People realize that if Trump gets elected, this stock has the potential to do something. And if he doesn\u2019t get elected, it probably goes to zero,\u201d said Matthew Tuttle, CEO of Tuttle Capital Management.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000d3b6mjp022g7z@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump is the face of the company. He is the most popular user on Truth Social and his 114.75 million shares makes him the dominant shareholder.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000e3b6m5y1zfca3@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The value of Trump\u2019s stake in the company has spiked by about $1.7 billion since September 23 to just over $3 billion.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000f3b6mta6nqkqb@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Jay Ritter, a finance professor at the University of Florida who has studied capital markets for four decades, described the 100% spike for Trump Media since September 23 as \u201cstunning.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000g3b6m4pmla5mn@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cMeme stocks thrive on attention, and in the case of Trump Media, the price also reflects the expectations of who will win the November election,\u201d Ritter said, pointing to betting markets such as PredictIt that show Harris\u2019 margin over Trump has vanished.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000h3b6mzx52d2xe@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Michael Block, chief operating officer and co-founder at AgentSmyth, pointed out there is a lot of bullish options activity expiring November 15, just days after the election.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000i3b6m1ef76qgb@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cThis looks like a selective bet on a Trump win on Election Day,\u201d said Block. \u201cTrump\u2019s poll performance is improving and his alliance with Elon Musk is changing the narrative.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252ek0u000v3b6mfxkzd4rw@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Despite the recent surge, Trump Media\u2019s stock price remains a long way from its March peak of $66. And the value of Trump\u2019s stake is still down by about $2 billion billion from what it was briefly worth in late March.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000j3b6myeqp829b@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Beyond the election, Trump Media\u2019s share price has benefited from the fact that the former president has held onto his stock. Many investors speculated that Trump could dump his shares when the <a href=\"https:\/\/www.cnn.com\/2024\/09\/19\/business\/trump-stock-truth-social-lock-up\/index.html\">lock-up restrictions preventing insiders from selling<\/a> lapsed. But, so far, Trump <a href=\"https:\/\/www.cnn.com\/2024\/09\/14\/media\/truth-social-trump-nasdaq\/index.html\">has not disclosed any stock sales<\/a> and he has publicly said he is not selling.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000k3b6mftcaunb6@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cIf Trump was winning in the polls but you were convinced he was going to sell, you certainly wouldn\u2019t see the move we\u2019ve seen,\u201d said Tuttle. \u201cThe fact he says he won\u2019t sell \u2013 and that he actually hasn\u2019t sold \u2013 provides the backdrop for the rally.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000l3b6mjwjzmzcw@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Ritter has long warned that the market is dramatically overvaluing Trump Media. He remains deeply skeptical about Trump Media, arguing the company is worth little more than the cash on its balance sheet because it has not demonstrated it has a business plan to generate profits.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm252czwr000m3b6mpqk57em4@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cAt today\u2019s stock price of about $25, the stock is overvalued by 1,000% or so,\u201d Ritter said, \u201csuggesting a 90% drop will eventually occur.\u201d\n    <\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnn.com\/2024\/10\/14\/investing\/trump-stock-truth-social-election\/index.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York CNN \u00a0\u2014\u00a0 Former President Donald Trump\u2019s social media company is on fire on Wall Street. It\u2019s all about Trump\u2019s perceived chances of retaking the White House. Up until &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=114194\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-114194","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/114194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=114194"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/114194\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=114194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=114194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=114194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}