Trump Media & Technology Group Shares Pare Gains, Last up 6%.
Trump Media & Technology Group stock was halted three times shortly after the market open as it surged following Donald Trump's election victory.
The shares, which trade under the ticker DJT, were up 16% to $39.52 early Wednesday when it was halted for the third time shortly before 9.40 a.m. Eastern time.
Trump's 57% stake in the company was valued at $3.9 billion at Tuesday's close, according to FactSet data. With a 16% jump, if it holds through the day, the value of his stake would soar to $4.6 billion.
The stock has acted as a proxy for Trump's odds of winning the election in recent months and that trend has been even more pronounced in recent days. The shares fell 34% over the five trading days through Tuesday as investors began to have doubts over whether Trump would win the presidency.
But he was confirmed as the winner early Wednesday after the Associated Press projected that Trump will win Wisconsin, taking him beyond the 270 electoral votes needed to win the White House.
With the stock still below its Oct.29 level the shares could climb even higher as investors digest the impact of Trump's presidency.
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