Trump Media Stock Sparks Retail Buzz With Truth+ Rollout On Android And iOS TV Devices

Shares of Trump Media & Technology Group Corp. ($DJT) rose nearly 3% early Tuesday following the successful launch of Truth+ streaming for Android TVs, just a day after the company released the app for iOS devices and Apple TVs.

With the Nov. 5 presidential election approaching, DJT and other Trump-linked stocks are experiencing a surge. 

The stock has gained over 130% in the past month, reflecting high volatility linked to political news surrounding Donald Trump, who holds a 57% stake in TMTG, the operator of the social media platform Truth Social.

DJT’s stock price spiked last week after Tesla CEO Elon Musk appeared alongside Trump at a rally in Pennsylvania. 

Additionally, Trump made headlines over the weekend by staffing a fry station at a McDonald’s in suburban Philadelphia before answering questions at the drive-thru during a private visit.

Shares of Phunware Inc. ($PHUN), the mobile advertising software company that developed the app for the Trump-Pence 2020 re-election campaign, saw a 26% increase Tuesday, extending its winning streak to four sessions.

Recent polling indicates Vice President Kamala Harris holds a 3-point advantage over Trump nationally, with 46% support compared to Trump’s 43% according to a Reuters/Ipsos survey. This lead is consistent with last week’s poll results.

Despite the recent rally, DJT’s stock has declined over 46% since its SPAC merger in March, impacted by disappointing financials, insider selling, and Trump’s ongoing legal challenges. 

In contrast, PHUN stock has risen by more than 156% this year.

On Stocktwits, retail sentiment for DJT remained in the ‘neutral’ zone as of 10 a.m. ET Tuesday. 

Retail interest in the stock has grown by over 3.5% in the past month, with message volume increasing by approximately 75%.

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