Trump Media & Technology rose 5% in premarket trading on Tuesday.
Shares of Trump Media closed up more than 18% on Monday, extending the Truth Social owner’s dramatic recovery from recent stock price lows and adding hundreds of millions of dollars to Donald Trump’s on-paper net worth.
The recent DJT surge came as multiple online election betting markets appeared to show betting odds shifting in Trump’s favor, after weeks of tilting toward the Democratic nominee, Vice President Kamala Harris.
Monday’s surge also coincided with Trump Media’s launch of a new site for its TV streaming app, Truth+.
In the past week, bets on the presidential election outcome hosted by contract market Kalshi and prediction trading platforms Polymarket and PredictIt all showed the odds of a Trump victory growing.
Those online gambling platforms, which are not based on methodologically sound data, shifted despite the latest polls at the national level and in key swing states continuing to show a neck-and-neck race.
Analysts have long suggested that many of Trump Media’s retail investors are fans of the former president, and they are buying and selling the stock as a way to support him or bet on his odds of retaking the White House.