Shares of Trump Media & Technology Group (DJT) are steadily rising as the Nov. 5 U.S. presidential election draws near.
The stock of Trump Media rose 10% on Oct. 22 as oddsmakers bet on a win by Donald Trump in the upcoming election. The stock has now risen nearly 20% in the last five trading sessions.
Trump Media & Technology Group is the social media company founded by and named after Donald Trump. It runs the Truth Social app that is modeled after X, formerly known as Twitter.
The share price of Trump Media, which went public earlier this year, has almost tripled since hitting an all-time low in late September.
In recent months, Trump Media’s share price has risen and fallen based on how Trump is performing in election polls and his perceived chances of winning the U.S. presidency.
The betting among oddsmakers has shifted in favor of Trump as the election enters its homestretch.
Oddschecker.com, which reflects the odds across several different betting platforms, currently gives Trump a 62% chance of winning the U.S. presidency.
However, the latest Reuters/Ipsos poll shows that Democratic nominee Kamala Harris has a 46% to 43% lead over Trump among decided U.S. voters.
Trump Media stock is up 97% so far this year and trading at $34.39 U.S. per share.
