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Scott Olson / Getty Images
The Trumpiest part of the “Trump Trade” was back on today.
In this case, we mean “Trumpiest” because it’s in stock of the company that bears the name of President-elect Donald Trump: Trump Media & Technology Group (DJT), whose shares were recently up about 17% to trade at levels not seen since before the election.
The Truth Social operator’s shares, which sometimes move on traders’ viewpoints regarding Trump’s political fortunes, have more or less treaded water since early December. Now, with Trump set to be inaugurated for a second time next Monday, those traders may once again be looking to buy ahead of a big event.
The upward move in “DJT” shares is the latest in a wild recent run for the stock. In the pre-election fall, the shares dropped below $12, weighed down by fears that Trump and other insiders might dump their shares once they became eligible to do so. Since then, though, they rose nearly $55 before Election Day; they’re currently changing hands closer to $40.
It’s been fairly quiet on the corporate news front—both in terms of announcements and rumors regarding possible acquisitions of, or by, the company. Trump Media’s last quarterly financial results landed in November, though the numbers have, at best, been a secondary driver of action in the stock.
Read the original article on Investopedia
