On Wednesday, shares of Trump Media & Technology Group (DJT, Financial) soared over 10% during trading, marking an impressive 80% increase this month. At the time of writing, the stock was up by 7.69%, trading at $29.14.
The surge comes amidst significant shifts in the U.S. presidential election landscape, with less than a month to go before election day. According to data from the well-known crypto prediction market platform, Polymarket, Trump's support rate has been on the rise since October 3, surpassing Harris with 55.9% compared to her 43.6% as of October 15.
Analysts suggest that the recent jump in DJT’s stock price is not due to any positive revenue news or target price upgrades from analysts. Instead, it appears directly linked to the sharp reversal in Trump's election support ratings.
