Jakub Bolzycki | Noor Photos | Getty Images
shares Trump Media Shares were up more than 14% in midday trading Monday ahead of President-elect Donald Trump’s inauguration next week.
The stock is now expected to have its best day since November 18, when shares surged 16.65% on news that the company was in “advanced talks” to acquire the cryptocurrency trading firm. Bucket.
Trump’s inauguration celebrations will begin with a reception on Saturday, followed by more celebrations and a “victory rally” the next day. Trump will be sworn in at the White House on January 20 to begin his second non-consecutive term.
Ahead of the big day, numerous big tech companies and executives have donated $1 million each to Trump’s first fund GoogleOpenAI CEO Sam Altman and Yuanand reported contributions apple CEO Tim Cook and Amazon.
Although Trump does not hold a senior executive position at Trump Media, the president-elect was the company’s largest individual shareholder until late last year when he transferred all of his shares to a revocable trust, of which he is the The sole beneficiary of the trust company.
Trump did not receive any of the transferred funds, but he now “indirectly” owns the shares, and the trust’s sole trustee, his son Donald Trump Jr., has sole voting and investment rights in the shares.
The social media company, which owns the Truth Social platform, had a market capitalization of more than $8.7 billion as of 1 p.m. ET on Monday.
The stock has risen 218% since Sept. 23, when it hit its lowest point since 2021, days before a “lockup period” that barred company insiders from selling shares ended.
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