Trump Media & Technology Group (DJT) is rising this morning on Donald Trump’s victory last night over Vice President Kamala Harris. This event surprised many and is likely to create turbulence across financial markets today as the world adjusts to this news. While DJT stock finished trading yesterday in the red following yesterday’s trading halts, it will likely stabilize today and rise on pro-Trump momentum.
What’s Happening with DJT Stock Today?
As of this writing, DJT stock is up 27% in premarket hours. This is a slight dip from its previous high of 33%. However, this early trading surge offers a preview of how it is likely to perform once markets adjust later today. Shares are still in the red for the past five days, although currently by less than 1%.
Once trading stabilizes, likely within a few hours, these losses should be erased. Trump’s win positions DJT stock to continue rising for at least a few days. Its growth could extend through his inauguration, although once he assumes the presidency, the company’s troubled finances may catch up with it.
It’s true that TMTG has reached a value of $10, driven partly by predictive markets that forecasted a Trump victory. However, as TipRanks contributor Casey Dylan notes, this high value doesn’t reflect the company’s fundamentals, as Truth Social is small and generating losses. Whether Trump’s presidency will address these issues in the long term remains to be seen.
Is DJT Stock a Buy Right Now?
With Trump in full focus following his victory, it’s easy to wonder if that makes DJT stock a buy. Since no analysts currently follow the stock, it is hard to properly assess which rating it deserves based on expert opinions. That said, the TipRanks technical analysis tool suggests a Buy signal signal for a one-day period based on overall bullish sentiment.
