Will Trump Media Stock Break $60 Before Jan. 20 Inauguration? Retail Investors On Stocktwits Bet On Outcome

Trump Media & Technology Group Corp. (DJT) shares have been highly volatile of late as its owner and President-elect Donald Trump is set to be inaugurated as the 47th president on Monday. Retail confidence in the stock has risen sharply ahead of the D-day.

TMTG stock is among the top five trending and most active tickers on the Stocktwits platform early Tuesday. 

In pre-market trading, TMTG’s stock was down 7.71% at $39.60 as of 9:06 a.m. ET. This marks a reversal from the positive sentiment on Monday, when the stock soared 21.52% to $42.91, marking the highest levels since late October. Monday’s upside came with more than seven times the average volume. 

Trump Media, often panned by some analysts as a scam due to its weak fundamentals, listed its shares on the Nasdaq in late March following the completion of its long-pending merger with the special purpose acquisition company Digital World Acquisition Corp.  

Following the listing, Trump held a 60% stake in TMTG, which owns the Truth Social platform. Trump recently transferred $4 billion worth of shares he owned in the company to a trust in which his son Donald Trump Jr. is the sole trustee. 

A Stocktwits poll with 5,600 responses so far shows that 56% of participants expect TMTG stock to surpass $60 before Inauguration Day. Meanwhile, 17% predict a range of $50–$60, 14% anticipate a drop below $40, and 12% see the stock landing between $40 and $50 by Jan. 20.

On Stocktwits, retail sentiment toward the stock is ‘extremely bullish’ (85/100), an improvement from the ‘neutral’ mood that prevailed a day ago. Message volume also spiked to ‘extremely high’ levels.

A retail watcher pointed to the elevated short interest in the stock and said a squeeze could be in the offing. According to Nasdaq data, as of Dec. 31, about 9.08 million TMTG shares were shorted, with the days to cover at 1.04. 

Another charted an ambitious near-term trajectory for the stock.

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