Trump media surges after Madison Square Garden rally | Wilnesh News

Shares of Donald Trump’s social media companies soared more than 20% on Monday after the Republican presidential candidate held a campaign rally in New York City.

Trump Media The stock rose to more than $46.80 per share in intraday trading, surpassing its recent peak in mid-July, when the company’s market value soared after Trump was nearly assassinated at a rally in Pennsylvania.

The surge was followed by a massive sell-off that bottomed out in late September, when DJT shares fell below $12 per share.

But the operators of Truth Social recouped all their losses in October as the election between Trump and Democratic nominee, Vice President Kamala Harris, entered its final weeks.

Trump owns nearly 57% of Trump Media. According to data, holdings at Monday’s intraday high totaled nearly $5.4 billion, accounting for more than half of Trump’s net worth. Forbes.

The value of Trump’s majority stake has increased by about $4 billion in the weeks since Trump Media hit lows in late September.

During this time, the company launched a standalone streaming app, Truth+, and announced the resignation of its chief operating officer.

But analysts often say Trump Media’s multibillion-dollar market capitalization and volatile stock movements have little to do with the company’s news or the performance of Truth Social, which generates little revenue and attracts a relatively small audience.

Instead, they began to see the stock as a conduit for the company’s many pro-Trump retail investors to support the former president and a proxy for betting on his chances of returning to the White House.

Monday’s stock market surge may be a sign of the enthusiasm these traders are feeling after Trump’s much-hyped rally at Manhattan’s Madison Square Garden drew thousands of supporters to the heart of the deep-blue metropolis.

“Our dear President @realDonaldTrump Had the rally of a lifetime yesterday with MSG and today the whole market is up! $DJT,” a Truth Social user Wrote Monday morning at a Trump Media shareholder group.

The recent rise in Trump media coincides with a shift in Republican favor toward political betting sites like Polymarket and Kalshi, despite polls generally showing a close race.

Odds and gambling platforms do not use the same methods as traditional political polls and therefore are not a replacement for political polls.

Critics fear the election betting market is rigged.

Polymarket confirmed last week that a French national used four separate accounts to build massive pro-Trump positions in his presidential election bets.

This is developing news. Please check back for updates.