Trump Media’s Stock Surges Amid Election Odds
Shares of Trump Media and Technology Group have made a remarkable comeback over the past month, largely due to former President Donald Trump’s rising odds in the 2024 election. Trump, the majority shareholder, now holds a significant lead over Vice President Kamala Harris in several betting markets.
DJT Stock Performance
The stock, trading under the ticker DJT, saw an impressive 55% increase over the last month, and as of Monday morning, it was up another 5%, reaching $26.40 per share. This surge aligns with the prediction markets’ view that Trump, the Republican nominee, is poised to reclaim the White House.
Market Value and Speculative Interest
Trump Media, the parent company of the Truth Social platform, has gained significant attention as Trump’s election odds improve. Following its stock market debut in March, the company’s value skyrocketed to nearly $10 billion. Retail traders have flocked to the stock, seeing it as a speculative bet on Trump’s chances of winning a second presidential term.
Betting Markets and Poll Trends
Since its listing, Trump Media shares have experienced volatility, but they have spiked as Trump closes the gap in the polls and his odds of defeating Harris rise. On PredictIt, Trump overtook Harris last week, with a 54% chance of winning compared to Harris’ 49% as of Monday.
Similarly, on PolyMarket, a crypto-based prediction platform, Trump’s odds have surged. After a tight race at the start of October, Trump now leads with a 54% chance, while Harris lags at 46%.
Tight Race in the Polls
Although prediction markets favor Trump, recent polls paint a closer picture. The latest NBC News poll, conducted between Oct. 4-8, showed Trump and Harris in a dead heat, each securing 48% support in a hypothetical head-to-head matchup. This marks a shift from a previous poll in September that gave Harris a five-point lead over Trump.
With just weeks remaining until Election Day, both prediction markets and polls show a competitive race, as the former president gains momentum.
