Home Editor's Picks DJT stock rises as Trump trial enters critical days

DJT stock rises as Trump trial enters critical days


Trump Media & Technology Group, a media and technology company whose majority owner is former US president Donald Trump, saw its shares on Wednesday as the much-debated Trump trial heads into the most important phase. DJT stock rose more than 3.3%, continuing this uptrend in today’s premarket with an additional 1% gain.

Trump trial enters critical days

The trial of former President Donald Trump has entered a crucial phase, focusing on his alleged involvement in a hush money payment to adult film star Stormy Daniels.

Daniels alleges she had an affair with Trump, which he denies, and the prosecution claims the payment was part of an effort to conceal information that could harm his 2016 presidential campaign.

Prosecutors presented evidence indicating that Trump orchestrated the payment to Daniels through his then-lawyer Michael Cohen, who was reimbursed via falsified business records. The prosecution argues that this was a deliberate attempt to protect Trump’s reputation and electoral prospects.

Trump’s defense team has sought to discredit Cohen and cast doubt on his testimony, while asserting that the payments were personal expenses, unrelated to the campaign. They argue that the prosecution is politically motivated and lacks credible evidence to prove Trump’s intent to violate the law.

The trial is significant because of its potential impact on Trump’s political future and its broader implications for transparency and accountability in U.S. politics.

Donald Trump left office in January 2021 after serving as president of the United States since January 20, 2017. He is now the leading Republican candidate vying for a return to the White House in the 2024 U.S. presidential election.

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As the trial approaches its final days, the jury will soon deliberate on the evidence presented, and their decision could have significant consequences not only for Trump but also for the 2024 presidential campaign and the precedent it sets for legal scrutiny of political figures.

DJT stock performance in 2024

The uptick in DJT stock on Wednesday marks a continuation of a strong year-to-date performance. Notably, the company’s shares rocketed more than 181% since the start of 2024, significantly outperforming the broader market. However, it has hardly been an enjoyable ride for Trump Media investors.

To be more specific, the DJT stock has experienced gravity-defying surges followed by dramatic crashes, leading to significant fluctuations in Trump’s net worth, its largest shareholder and chairman.

Since the company’s closing price on March 27, the day after it went public, Trump’s net worth has plunged by over $2 billion. On one particularly harsh trading day, his net worth plummeted by $1 billion.

One reason for this extreme volatility is that Trump Media achieved a remarkably high valuation at its public debut, which experts argue defies logic. Stocks with such inflated valuations often lack solid support, leading to sharp declines when market sentiment turns negative.

Several factors contribute to the stock’s volatility, including the company’s close association with a former US president. His name recognition, polarizing political stance, and prominent connection to the company have drawn the attention of retail investors, professional traders, and the media, creating an unpredictable environment for the DJT stock.

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