Trump Media & Technology Group Stock Volatility Ahead of 2024 Election
Shares of Trump Media & Technology Group Corp. (DJT) are experiencing significant volatility as the 2024 U.S. presidential election approaches. This volatility is closely tied to news about former President Trump and his prospects of winning the election.
In October, DJT shares surged due to a short squeeze, forcing short sellers to cover their positions. S3 Partners predicts that DJT could climb to $60 if Trump wins the election. However, they also warn that the stock could become "worthless" if he loses. Trading in DJT has been halted several times due to rapid price movements related to election developments.
The New York Post has speculated that Elon Musk may be considering a merger or acquisition of Truth Social through X (formerly Twitter). However, this speculation has not been confirmed.
As of this writing, Trump Media and Technology shares are down 11.3% at $31.34, according to Benzinga Pro.