What's Going On With Trump Media & Technology Stock On Thursday?

Anusuya Lahiri

October 03, 2024

Trump Media & Technology Group Corp (NASDAQ:DJT) stock is trading higher on Thursday as the U.S.A. Presidential election date nears.

Trump, a majority owner of the Truth Social parent, offered tough competition to the current Vice President in several polls in the critical swing states of Arizona, Nevada, North Carolina, and Georgia, the Economic Times reports.

Iran's missile attack on Israel further allowed Trump to take digs at President Joe Biden and Harris, accusing them of leading to the cusp of World War III, the Independent reports.

In September, Trump met Ukraine's Volodymyr Zelensky in Trump Tower, both of whom agreed to bring an end to the war that Russia initiated with its invasion of Ukraine in February 2022.

Zelensky invited Trump to visit Ukraine, and Trump replied in the affirmative. Trump has then said on his Truth Social account that if he loses the election, then the war will phase into WORLD WAR III.

It's noteworthy that the U.S. impeached Trump in 2019 for allegedly pressurizing the Ukrainian president to dig out information against Joe Biden and his son Hunter.

Trump's pro-American stance, including bringing back manufacturing jobs to the U.S., higher tariffs on imported goods, and low taxes and regulations for domestic producers, could tip the scales in his favor.

Meanwhile, the polls, according to the Economic Times report, reflect dissatisfaction with the Biden government's handling of inflation and border security.

Trump Media stock also got a boost from Trump retaining his majority stake in the Truth Social parent despite co-founders Andrew Litinsky and Wes Moss cashing out.

Trump Media stock gained over 16% in the last five days

Price Action: DJT stock is up 2.15% at $16.15 at the last check on Thursday.

Image via Shutterstock

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