Shares in Trump Media & Technology Group surged over 30% in early trading after NBC News projected Donald Trump's victory in the presidential election, though gains eased from an earlier 50% jump above $50 per share. Seen as a market proxy for Trump, the stock rallied despite a third-quarter loss of over $19 million and revenues of just over $1 million. The stock has experienced significant volatility, with a 105% increase over the past month but a 34% drop in the last five trading days as the election fluctuated. Trump Media CEO Devin Nunes praised the quarter’s impact on Truth Social and retail investors backing free speech.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Shares in Trump Media and Technology Group surged over 30% in early trading after NBC
00:07News projected Donald Trump's victory in the presidential election, though gains eased from
00:12an earlier 50% jump by $50 per share. Seen as a market proxy for Trump, the stock rallied despite
00:19a third quarter loss of over $19 million and revenues just over $1 million. The stock has
00:25experienced significant volatility with a 105% increase over the past month, but a 34% drop
00:32in the last five trading days as the election fluctuated. Trump Media CEO Devin Nunes
00:38praised the quarter's impact on truth social and retail investors backing free speech.