Trump Media & Technology Group stock was rising again ahead of Friday's opening bell as the Truth Social parent bids to close a stellar week with another session of gains.
Shares in the company, which is majority owned by former President Donald Trump and trades under the ticker DJT, climbed 10% to $26.47 in the premarket.
Trump Media is up 46% since Monday. If it can finish Friday in the green it will have posted its best week since it listed via a blank-check merger in late March, according to Dow Jones market data -- although it's still trading about 64% below the level it was then.
At first glance, it might be unclear what's driven shares higher -- but it's worth remembering that Trump Media tends to trade as a proxy for the Republican nominee's chances of winning November's presidential election, rather than based on traditional valuation metrics such as price-to-earnings ratios or future cash flows.
Tesla CEO Elon Musk's cameo at a Trump rally on Saturday may have encouraged investors to pile into DJT, while Vice President Kamala Harris' grilling on 60 Minutes may also have boosted shares.
Neither of those events appears to have moved the needle significantly in the race for the White House, though. The chances of Harris winning next month still stand at about 55%, compared with Trump's 45% odds, according to the poll analysis site 538.