Connect with us

Hi, what are you looking for?

Editor's Pick

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

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

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Investing

    Overview Steppe Gold (TSX:STGO) is a precious metals development company and gold and silver producer in Mongolia. The company owns the Altan Tsaagan Ovoo...

    Latest News

    Rescuers are searching through rubble and trying to reach isolated communities after a devastating earthquake struck Morocco, killing thousands and leaving more injured or...

    Stock

    LIVE OAK, Fla. — President Biden traveled to Florida on Saturday to survey the damage caused by Hurricane Idalia, part of a storm response...

    Investing

    Investor Insight EMU NL is an Australia-focused base and precious metals exploration company offering a compelling opportunity in the highly lucrative copper space. A...

    Disclaimer: Smartmerchantknow.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 smartmerchantknow.com