volatility & Intrigue: Trump Media Shares Halt Multiple Times in Early Trading
The trading of shares of Trump Media, which trades under the symbol DJT on the Nasdaq, experienced severe volatility multiple times as it ricocheted in early trading on Tuesday morning. The company, majority-owned by Donald Trump, saw its stock halted for several intervals due to rapid price swings.
Halts Amid Early Volatility
Trump Media shares were paused for volatility for five minutes at 9:36 a.m. ET, where they had soared over 14%. The company was halted again at 9:42 a.m., with the shares up nearly 9%. This was followed by another event at 9:50 a.m. When halted again at 10:21 a.m., the stock had dropped more than 2%. The company’s trading volume was extraordinary, with over 16 million shares changing hands in the initial 10 minutes of trading. By 10:15 a.m., it had already surpassed its 30-day average trading volume significantly.
Background of Volatility
The volatile session came on heels of DJT’s stock rising by more than 21% on Monday, marking an extremely heavy trading volume. This upswing was part of an election-related rally throughout late September after a sustained sell-off, during which the stock dropped below $12. Within weeks, the stock jumped to be more than four times that value.
The month has seen a phenomenal 224% gain for the company’s stock. Analysts attribute the surge primarily to a massive number of pro-Trump retail investors buying shares to support the former president or to bet on his chances in the upcoming presidential race against Democratic nominee Kamala Harris.
Political Ties and Wild Gambling
Trump owns nearly 57% of the company, which operates the Truth Social platform. After Monday’s rally, his stake in the company was reportedly worth over $6 billion at the opening bell. This represents over half of his estimated on-paper net worth, according to Forbes. Despite ongoing financial struggles and the lack of substantial revenue, Trump Media has achieved a market capitalization exceeding $10 billion.
Political betting platforms like Polymarket have shown a tilt toward Trump in bets against Harris, although critics have raised concerns about potential market manipulation. Betting does not replace political polling methods and encompasses different methodologies.
Call to Action
This story is breaking news. Keep an eye on future updates and developments in Trump Media’s stock volatility and the broader political climate. Follow our site for the latest insights and analysis as the election season unfolds.
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