DJT stock soars amid Donald Trump's rise in the betting markets

Donald Trump's media institution is enjoying a banal marketplace resurgence, pinch shares of Trump Media & Technology Group soaring connected Tuesday arsenic betting markets now wager nan erstwhile president is favored to triumph successful nan November 5 election.

The attraction connected Trump Media — which trades nether nan ticker DJT, nan aforesaid arsenic Trump's initials — person led to a spike successful trading volume, pinch nan New York Stock Exchange halting trading of nan banal respective times connected Tuesday owed to different volatility. 

Shares jumped $5.86, aliases 12.4%, to $53.22 successful Tuesday day trading. The banal has much than tripled successful worth during nan past month.

While nan polls show that nan statesmanlike title is highly close, nan betting markets specified arsenic Polymarket are now predicting that Trump is favored to triumph nan election. While Polymarket past week said a sole French trader was down 4 accounts that spent millions to acquisition nan Trump contract, nan world level wished it was not marketplace manipulation. 

Trump Media has been volatile since it began trading successful March, initially surging to a valuation that topped $9 billion despite a history of losses, earlier falling to a debased of $11.75 a stock successful September. Much of nan stock's activity is tied to Trump's governmental fortunes, pinch DJT swinging upwards erstwhile his likelihood look to improve. 

That's prompted comparisons pinch a meme stock, aliases a institution whose shares waste and acquisition connected societal media buzz alternatively of accepted analytical measures specified arsenic gross maturation and profitability. Trading measurement successful DJT shares has been unusually precocious successful nan past 2 weeks, pinch its trading measurement topping 120 cardinal shares connected Tuesday, versus its 30-day mean trading measurement of 35 cardinal shares, according to financial information patient FactSet. 

"DJT has been very volatile owed to speculators that are momentum players," University of Florida finance professor Jay Ritter wrote successful an email to CBS MoneyWatch. "These speculators bargain erstwhile nan value rises, pushing up nan price, but past waste erstwhile nan tide turns, resulting successful occasional large drops."

But Trump Media has small successful nan measurement of gross aliases maturation to pull organization investors, while it's go costly to short because of nan costs to get shares, Ritter added. 

"The institution is losing money, burning done its cash. In nan short run, thing tin hap to nan price, but nan semipermanent inclination will beryllium down," he added. 

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