{"id":122586,"date":"2024-11-06T05:00:35","date_gmt":"2024-11-05T22:00:35","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=122586"},"modified":"2024-11-06T05:00:35","modified_gmt":"2024-11-05T22:00:35","slug":"trumps-media-stock-is-halted-for-extremely-volatile-trading-as-america-goes-to-the-polls","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=122586","title":{"rendered":"Trump\u2019s media stock is halted for extremely volatile trading as America goes to the polls"},"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\/cm34m9bw2001n2cqdctx8asbr@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Former President Donald Trump\u2019s social media company was temporarily halted \u2013 twice \u2013 after a sudden and precipitous plunge on Election Day following a massive surge.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r00053b6m6vwp34e4@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Shares of Truth Social owner Trump Media &amp; Technology Group, which trades under the symbol \u201cDJT,\u201d briefly turned negative after spiking as much as 17% earlier Tuesday morning. After the stock was halted for volatility, shares began to recover but ended the day down more than 1%.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34w002a0000356nrdnilwn8@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            It wasn\u2019t clear what caused the massive sell-off \u2013 or the earlier spike. Prediction markets have barely budged Tuesday, and other so-called Trump trades that are betting on a Trump victory remained strong.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34w6pk2000c356n2mp01h0c@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cMarkets are very thin and skittish, DJT exceptionally so,\u201d said Steve Sosnick, chief strategist at Interactive Brokers.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34w4n7a0006356niv3newne@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The company faces a potential make-or-break moment that will be decided by voters Tuesday. The stock <a href=\"https:\/\/www.cnn.com\/2024\/11\/04\/investing\/stock-trump-truth-social\/index.html\">gained 12% Monday<\/a>, rebounding from <a href=\"https:\/\/www.cnn.com\/2024\/11\/01\/investing\/trump-stock-net-worth\/index.html\">three days of steep losses last week.<\/a>\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mmnsq00003j6n24f5pekc@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Traders have been betting for months that a Trump victory could enhance the value of Truth Social \u2014 though justifying its current price tag would be very difficult even if Trump is back in the White House.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r00073b6meeztjfh3@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump Media is losing money and generates very little revenue. Its main product, conservative social network Truth Social, remains tiny. Yet Trump Media has morphed into a multi-billion-dollar meme stock and a favorite way for traders to bet on how this election cliffhanger will end, inflating the <a href=\"https:\/\/www.cnn.com\/2024\/10\/30\/business\/trump-stock-truth-social\/index.html\">net worth of its biggest shareholder<\/a> along the way.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r00083b6mt286appw@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Some other elements of the so-called Trump Trade increased on Tuesday. Big bank stocks and bitcoin rallied. So did private prison companies Geo Group and CoreCivic. <a href=\"https:\/\/www.predictit.org\/markets\/detail\/7456\/Who-will-win-the-2024-US-presidential-election\" target=\"_blank\" rel=\"noopener\">Prediction markets<\/a> have shifted in Trump\u2019s direction in recent days, too.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r00093b6mpjp3tqn4@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Still, the final polls and prominent <a href=\"https:\/\/www.natesilver.net\/p\/nate-silver-2024-president-election-polls-model\" target=\"_blank\" rel=\"noopener\">election models<\/a> suggest the race for the White House is a true coin flip that could go either way.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34s0h5a00003b6n74p5irrl@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cI don\u2019t know where the market gets its confidence from,\u201d said Sosnick. \u201cI think that those who have been favoring the former president all along are a confident bunch, and this is their last opportunity to express that confidence before we learn whether it is justified.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r000a3b6m089zjeko@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Matthew Tuttle, CEO of Tuttle Capital Management, told CNN on Tuesday that it\u2019s far too early to draw any conclusions from the Trump Media volatility and other market moves.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r000b3b6mlwa7tr61@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cIt\u2019s extremely early. I don\u2019t think we\u2019re seeing smart money here. We\u2019re seeing people throwing darts at a board,\u201d Tuttle said.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r000c3b6mb7607di7@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump Media has plenty at stake.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r000e3b6mrv2ji5v3@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Even though Trump Media generated just $1.6 million in revenue this year, it\u2019s valued at nearly $8 billion based on Tuesday\u2019s gains. That means Trump Media\u2019s market value is about equal to Paramount Global, a media conglomerate that owns CBS and has brought in more than $14 billion this year.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r000f3b6mo8sp532e@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            If Trump loses the election, Trump Media has little to fall back on. Venture capitalist Gene Munster recently told CNN that a Trump loss could cause Trump Media\u2019s value to crash to just $1 billion. Others think it could be worth even less.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r000g3b6m981tr5dx@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cI wouldn\u2019t touch DJT because I think the downside is zero, and I\u2019m not sure how much upside there is,\u201d Tuttle said.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm34mao4r000j3b6mcj1qh59d@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump owns 114.75 million shares in the company, making him the dominant shareholder. At current prices, those shares are worth about $3.9 billion. That\u2019s up sharply from $1.4 billion on Sept. 23 when Trump Media closed at a record low.\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\/11\/05\/investing\/trump-stock-election-truth-social\/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 was temporarily halted \u2013 twice \u2013 after a sudden and precipitous plunge on Election Day following a massive surge. &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=122586\" 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-122586","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/122586","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=122586"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/122586\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=122586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=122586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=122586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}