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Stock Track | Trump Media Stock Soars Pre-Market on Election Sentiment

Stock Track2024-10-08

Shares of Trump Media & Technology Group (DJT) surged 5.17% in pre-market trading on Monday, October 8, as investors reacted to Vice President Kamala Harris' high-profile interview with CBS News' 60 Minutes.

The stock rally comes amid heightened investor focus on the upcoming November presidential election, with former President Donald Trump, the majority owner of DJT, seen as having a 44% chance of defeating Harris according to polling analysis website 538.

Investors appear to be trading DJT stock based on Trump's perceived election prospects rather than the company's fundamentals. In its latest quarterly report, Trump Media reported meager sales of $837,000 and a net loss of $16.4 million, reflecting its status as a niche player in the social media market dominated by giants like Meta Platforms and Elon Musk's X (formerly Twitter).

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