Donald Trump, the former President, has reappeared on Bloomberg’s list of the world’s 500 wealthiest individuals for the first time since August. This resurgence is due to the soaring value of shares in his company in recent weeks.
The market capitalization of Trump Media is currently around $7.20 billion, making Trump’s stake valued at approximately $4.1 billion. At its peak in late March, shortly after its Wall Street debut, DJT stock was trading at $66.22, pushing the company’s value close to $10 billion.
Many retail investors in Trump Media are supporters of the former President, some trading the stock as a display of support for him. Analysts suggest that for others, it could be a way to speculate on Trump’s chances of defeating Vice President Kamala Harris in the upcoming presidential election.
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“It’s really simple. People realize that if Trump gets elected, this stock has the potential to do something,” Tuttle mentioned in the post on Oct. 14.
“Interestingly, DJT popped up on my short watchlist again today. These are system trades that look for overbought stocks. I would be buying puts if DJT goes up 2 [percent] and again up 4 [percent]. If it doesn’t rise, then we do nothing,” he stated.
At the time of reporting, DJT had risen more than 4 percent for the day and was on track for a higher close.
