Investing.com — Shares of former President Donald Trump’s media group soared in pre-market trading Tuesday after hitting their highest in more than two months in the previous session.
More than 57 million shares of Trump Media & Technology Group (NASDAQ:) traded on Monday, the busiest day for Trump Media & Technology Group (NASDAQ:) stock since July 15. It became. This was the first trading day following the assassination attempt on the Republican presidential candidate at the Trump Media and Technology Group (NASDAQ:) rally. Pennsylvania.
Shares in Truth Social, the company Trump owns 57%, rose more than 18% on Monday, the latest rally after weeks of declines.
Trump Media stock has more than doubled in the past two weeks, helped by rising odds for bets that Trump will win the Nov. 5 presidential election.
The contract for Trump’s win was $0.54, and Tuesday’s payout was $1, according to the online platform PredictIt. The winning contract for Trump’s Democratic rival, Kamala Harris, was $0.49.
Analysts argue that stock price movements often reflect investor speculation about Mr. Trump’s chances of winning a second four-year term in the White House.
Also spurring a rally in Trump Media shares on Monday was a report that Harris had agreed to an interview with conservative news outlet Fox News. Sentiment was also boosted by loss-making Trump Media’s announcement that it would launch its own video streaming service, Truth+.
With just a few weeks left until the Nov. 5 election, Harris maintains a narrow lead over Trump in national polling averages.
But crucially, even in the seven battleground states that could have a big impact on the outcome of the all-important electoral vote, very few polls have been conducted. There are a total of 538 votes in the Electoral College, and a candidate needs to reach 270 to win the presidency.
Harris holds narrow leads in Nevada, Wisconsin, Pennsylvania and Michigan, according to analysis website 538 and ABC News. Trump has a slight advantage in Georgia, North Carolina and Arizona.
(Reuters contributed reporting.)
