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Stock For Trump’s Truth Social Soars As Election Day Nears

Stock For Trump’s Truth Social Soars As Election Day Nears Stock For Trump’s Truth Social Soars As Election Day Nears

Former President Donald Trump’s social media platform, Truth Social, surged in the stock market Monday.

The parent company of Truth Social Trump Media & Technology Group (DJT) increased by 15%, CNN Business reported Monday late afternoon. (RELATED: ‘It’s Not Going To Be Close’: Mark Halperin Says Women Will Decide Election)

The stock price has drastically wavered since it went public in March. Its value quadrupled over five weeks before nosediving 41% over the last three trading sessions, CNN Business noted.

Market analysts pointed to Trump’s recent success in election prediction sites as a potential factor in the stock’s surge. (RELATED: ‘I’m Just Nervous, Nervous, Nervous’: CNN’s Van Jones ‘Worried’ Over Harris’ Chances In Pennsylvania)

The election betting site Polymarket gives Trump a roughly 58% chance of winning Tuesday’s election as of Monday afternoon. However, other polls have the race in a deadheat, particularly in swing states.

An Emerson College poll gives Trump a one-point edge in Pennsylvania (49% to 48%) and Georgia (50% to 49%) while Harris has a two-point edge in Michigan (50% to 48%). The candidates are tied in Nevada and Wisconsin, according to the poll.

The stock’s jump increased Trump’s net worth by around half a billion dollars.

“I’ve never seen anything quite like this,” Managing partner and co-founder of venture capital firm Deepwater Asset Management, Gene Munster, told the CNN. “This company’s values is almost entirely based on the outcome of the election.” (RELATED: Final 202 NY Times/Siena College Polls Shows Contradictions, Surprising Shifts In Key States)

DJT’s shares skyrocketed over 200% in October, The New York Post reported.



This article was originally published at dailycaller.com

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