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The heaviest part of the “Trump Trade” was back on today.
In this case, we mean “Trumpiest” because it's in stock from the company that bears President-elect Donald Trump's name: Trump Media & Technology Group (DJT), whose shares had recently risen by around 17% to trade at levels not seen since before the election.
Shares of operator Truth Social, which sometimes moves on traders' views on Trump's political fortunes, have more or less flatlined since early December. Now, with Trump set to be inaugurated for a second time next Monday, those traders may once again be looking to buy ahead of a big event.
The upward move in “DJT” shares is the latest in a wild recent run for the stock. In the fall before the election, the shares fell below $12, weighed down by fears that Trump and other insiders could dump their shares once they come. qualified to do so. Since then, however, they have raised almost $55 before Election Day; they are currently changing hands closer to $40.
It has been fairly quiet on the corporate news front – in terms of announcements and rumors about potential acquisitions ofor by, the company. Trump Media's last quarterly financial results landed in November, although the numbers have been, at best, a secondary driver of action in the stock.
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