Trump’s social media company stock spikes as Americans head to the polls.
Trump Media & Technology Group, the parent company of Truth Social, saw its shares soar on Election Day, gaining nearly 13% after an earlier 12% rally on Monday. The stock spike highlights Truth Social’s role as a favored meme stock and potential election influence. Despite struggling with revenue generation — earning only $1.6 million this year — Trump Media’s valuation hit nearly $8 billion. However, analysts are cautious; a loss for Trump in the election could drastically deflate the company’s value.
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