Former US President and Republican presidential candidate Donald Trump spoke during a campaign rally at Van Andel Arena in Grand Rapids, Michigan on November 5, 2024.
Shares in former President Donald Trump’s media company surged as voting results in the contentious presidential election campaign were tallied overnight.
Trump Media & Technology Group experienced a 10% increase in its stock price as formal after-hours trading concluded on Tuesday evening, Election Day.
The shares continued to rise in special late trading on the Robinhood brokerage platform for major stocks, jumping approximately 43% to over $48 per share.
The stock continued its upward trajectory overnight as Trump secured an early lead in the Electoral College, including winning the swing state of North Carolina, according to NBC projections.
Despite a surprising earnings report indicating a $19.2 million loss for the company in the third quarter, the stock, viewed as a market barometer for the former president’s reelection prospects, rallied.
The shares have shown volatility throughout the election season, fluctuating in response to the ebb and flow of Trump’s fortunes as he competes neck-and-neck with Democratic Vice President Kamala Harris.
