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Trade from Trump Media Shares were suspended for volatility several times on Tuesday morning as the company majority-owned by Donald Trump ricocheted in early trading.
The company, which trades as DJT on the Nasdaq, halted for five minutes at 9:36 a.m. ET, when shares traded up about 14%.
Trading halted for the second time at 9:42 am, with the stock up nearly 9%. The company stopped again at 9:50 am
At the fourth stop at 10:21 am, the stock was down more than 2%. Trading stopped again 10 minutes later.
By 11 am, the stock was up more than 6%.
Nearly 16 million shares of Trump Media changed hands in the first 10 minutes of the trading day. As of 10:15 am, the company had surpassed its 30-day average trading volume of 35.1 million shares.
Trump Media (DJT) stock price history
The volatile session came after DJT shares surged more than 21% on heavy trading volume.
The gains added to a pre-election stock rally that began in late September, after months of selling that dragged the company’s share price below $12.
Just over a month later, Trump Media shares were trading at more than four times that price.
The stock is up 224% so far this month, and is on pace for its best month since October 2021, when the blank check company known as DWAC announced plans to merge with Trump’s personal media company.
The merger, which took Trump Media public, was completed in late March.
The company’s stock has now surpassed its most recent peak in mid-July, when stock prices surged after the Republican presidential nominee narrowly escaped an assassination attempt.
Trump owns nearly 57% of the company, which operates the Truth Social platform. His stock at Monday’s closing price was worth more than $5.4 billion, which represents more than half of his net worth on paper, according to Forbes.
At the opening bell Tuesday, the former president’s stock was worth more than $6 billion.
Despite losing hundreds of millions of dollars due to low revenue in the recent fiscal quarter, Trump Media has a market capitalization above $10 billion.
Analysts believe that many retail investors are pro-Trump companies that bought shares to support the former president, or bet on the odds to defeat Democratic presidential candidate Kamala Harris.
Monday’s surge followed Trump’s primary campaign rally at Madison Square Garden in New York City on Sunday.
The company’s gains also coincided with political betting markets, such as Polymarket and Kalshi, tilting toward Trump over Harris in recent weeks.
Chances and gambling platforms do not use the same methodology used by traditional political polls, and therefore are not substitutes for political polls. Critics have worried that the election betting market is being manipulated.
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