Following Donald Trump's presidential triumph against Kamala Harris, Trump Media & Technology Group Corp. (DJT, Financial)'s shares jumped Wednesday, guaranteeing his comeback to the White House as the 47th U.S. president. DJT stock was up almost 20% in early trading; premarket trading showed gains as high as 36%.
After securing Wisconsin and the 270 electoral votes, Trump's victory generated significant interest in DJT, the business behind Truth Social on social media. After Trump's victory became increasingly probable, shares climbed around 25% after-hours Tuesday; then, they surged once again following the early morning announcement.
Extreme volatility for DJT during Tuesday's trading session resulted in many trading pauses as shares rapidly reversed a 15% increase, thereby closing down just over 1%. By Wednesday, though, DJT had started to pick up an increasing pace and was at market open with 9.3% gains.
