Economic Rules Hub
  • World
  • Politics
  • Business
  • Investing
Home Business Trump Media shares rise again, jump 50% in the past week
Business

Trump Media shares rise again, jump 50% in the past week

by admin May 2, 2024
May 2, 2024

Trump Media shares climbed nearly 7% Tuesday, continuing a rise that has seen the Truth Social owner surge about 50% in the past week.

DJT closed the trading day at roughly $50 a share, about 30% below its opening price of $70.90 in late March.

The stock has had several volatile days in the past month, trading at a high of about $60 a share and a low of just over $20 per share.

Trump Media’s rise has come without significant news about its finances improving. The company’s social media business had $58 million in losses last year and just $4.1 million in revenue.

The recent climb in the stock may be the result of steps the company has taken to target short sellers, according to Jay Ritter, a business professor at the University of Florida who is an expert on initial public offerings.

“In the last week or so, the company has informed its shareholders how to make it difficult to loan their shares to short sellers, and it is possible that the number of shares available to short has decreased, increasing the [cost] borrowing rate for short selling,” Ritter said.

The Truth Social owner also has urged Congress to investigate possible “unlawful manipulation” of the stock.

— CNBC’s Dan Mangan contributed to this report.

This post appeared first on NBC NEWS

0
FacebookTwitterPinterestEmail
previous post
DJT shares close down more than 9% as Trump Media hot streak stalls
next post
Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller

Related Posts

JPMorgan marks 1,000th branch opening since 2018 expansion plans

August 1, 2025

Apple crushes Wall Street expectations as iPhone sales soar

August 1, 2025

Ontario cancels internet deal with Musk’s Starlink as part of...

August 1, 2025

Trump ends de minimis exemption for global low-cost goods

July 31, 2025

Recall warns some Celsius energy drink cans accidentally contain alcohol

July 31, 2025

Union Pacific to buy Norfolk in $85 billion mega U.S....

July 30, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Trump closes week with plans to reposition subs amid heightened Russia tension, new tariffs

      August 3, 2025
    • Trump 1.0 alums share chilling Google message from before second-term return: ‘LAWFARE at its finest’

      August 3, 2025
    • Dems dig in, Trump demands all: Nominee fight boils over in Senate as GOP looks for a deal

      August 3, 2025
    • Pirro confirmed as D.C. U.S. Attorney amid partisan clash as Dem nominee blockade continues

      August 3, 2025
    • Ex-Trump prosecutor Jack Smith under investigation by government watchdog Office of Special Counsel

      August 3, 2025

    Categories

    • Business (1,473)
    • Investing (3,805)
    • Politics (5,064)
    • World (4,720)
    • Email Whitelisting
    • Terms and Conditions
    • Privacy Policy
    • Contacts
    • About us

    Disclaimer: EconomicRulesHub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EconomicRulesHub.com | All Rights Reserved

    Economic Rules Hub
    • World
    • Politics
    • Business
    • Investing