Trump Media Stock Halted For Volatility After 14% Jump, Set For 3rd Day Of Gains Amid Retail Frenzy

Shares of Trump Media & Technology Group Corp. ($DJT) surged as much as 14% at market open on Tuesday, reaching $54.09 — a more than five-month high — before trading was halted due to volatility. 

This uptick follows a 22% jump on Monday, marking a potential third consecutive day of gains for the stock.

Trading was temporarily suspended for five minutes at around 9:40 a.m. ET after significant price swings, marking the second halt this month due to rapid movements. 

Donald Trump, the majority owner with approximately 57% of the company’s outstanding shares, has seen his stake increase in value by $1.88 billion over the past three days and by $4.04 billion just in October.

With a market valuation estimated at $9.5 billion, DJT is now comparable to X (formerly Twitter), which Elon Musk took private, according to Barron’s. 

Since reaching a low of $12.15 on September 23, DJT’s stock has been on a tear. 

Recent political dynamics have also influenced sentiment; Trump’s odds of winning the upcoming election have risen from 46.3% to 62.7% over the same period, according to the eight betting platforms tracked by RealClearPolitics.

Key political endorsements, including support from Elon Musk and more recently, hedge fund Citadel’s billionaire founder, Ken Griffin, have added to the stock’s momentum. 

Griffin has reportedly donated $100 million to pro-Republican PACs, expressing confidence in Trump’s electoral prospects.

Despite the stock’s rapid ascent, analysts caution that the company’s fundamentals are weak, with a recent Reuters report indicating that its revenue is comparable to just two Starbucks locations. 

On Stocktwits, DJT has emerged as the top trending ticker on Tuesday morning, amid overall trading volume surging to 83 million shares — nearly six times the daily average. 

Over the last 30 days, the stock’s retail following on the platform has increased by over 5%, and message volume has skyrocketed by nearly 430%.

For updates and corrections, email newsroom@stocktwits.com

Read next: McDonald’s Stock In Focus After Q3 Earnings Beat, Same-Store Sales Miss: Retail Confidence Edges Higher

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