Sept 9 (Askume) – Shares of Trump Media & Technology Group (DJT.O) , majority-owned by former U.S. President Donald Trump , rose nearly 5% on Monday after a poll showed the race for Republican nominee and vice president in a tight race.
The rebound in the company’s shares comes after weeks of declines that hit record lows, and ahead of a key date this month when Trump and other company insiders will be allowed to sell stock.
Trump Media’s main asset is the Truth social app, which saw its value surge to nearly $10 billion after it went public in March, as Trump supporters and traders bet he would win the November election.
Trump’s response to the media on Monday came after a new poll showed that recent support for Harris, a Democratic rival to Trump, has stalled and could reverse.
According to a national poll conducted by The New York Times and Siena College , Trump’s approval rating is one percentage point higher than Harris’s, 48%–47%.
With eight weeks remaining until the Nov. 5 presidential election, win contracts for both Trump and Harris are trading at 52 cents on the PredictIt political betting platform, with a potential payout of $1. As recently as Saturday, Harris led Trump 54 cents to 50 cents.
Trump Media shares rose on Monday after weeks of declines, giving the company a market value of $3.6 billion. That gives Trump’s 57% stake a value of more than $2 billion.
Trump Media reported a second-quarter loss of $16.4 million on revenue of $837,000, the equivalent of sales at two Starbucks stores.
Under rules governing Trump Media’s listing, Trump and other insiders will be allowed to sell stock later this month, which could flood the market with more shares.
If the stock price remains at or above $12 for any 20 trading days beginning on August 22, Trump will be free to sell the shares beginning on September 20.
