Trump Media DJT shares gain in after hours as voting nears end for heated presidential election

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Trump Media DJT shares gain in after hours as voting nears end for heated presidential election

Former US President and *********** presidential candidate Donald Trump speaks during a campaign rally at Van Andel Arena in Grand Rapids, Michigan on November 5, 2024. 

Kamil Krzaczynski | AFP | Getty Images

Shares in former President Donald Trump’s media company pushed higher as voting wound down in the contentious election campaign Tuesday.

In after-hours trading, Trump Media & Technology Group rallied more than 6% at one point and most recently were up about 4%.

The stock, seen as a market proxy for the former president’s prospects as he seeks a second term in office, rallied despite a a surprise earnings statement that showed the company lost $19.2 million in the third quarter.

Shares have been volatile during the election season, rising and falling as Trump’s fortunes swirled during his neck-and-neck race with Democrat Vice President Kamala Harris.

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Trump Media & Technology Group shares

They are down more than 34% over the past five trading sessions as Harris seemingly picked up momentum in the race’s final days. However, the stock, with ticker DJT after the ***********’s initials, also has soared more than 105% over the past month.

In Tuesday’s session, as the candidates made their closing push, the stock burst more than 18% at its session high, only to close down 1.2%.

In the earnings release, the company reported revenue of just over $1 million.

“This has been an extraordinary quarter for the Company, for Truth Social users, and for our legion of retail investors who support our mission to serve as a beachhead for free speech on the Internet,” Trump Media CEO Devin Nunes said in a statement.

Nunes is a former congressman from California.

To be sure, the stock is not necessarily a perfect play on whether Trump wins. The stock could be influenced by other factors like profit taking, given its hefty gains already this year.

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