DJT Stock Is Rising. Here’s Why.
Trump Media & Technology Group stock was rising early Wednesday as the trial of former U.S. President Donald Trump continued for a fourth week in New York.
Stormy Daniels, the adult film star Trump is accused of paying to remain silent before the 2016 election, testified on Tuesday. He has pleaded not guilty to charges of falsifying business records to cover up alleged hush money payment to Daniels and he says he has not had sex with Daniels.
That came a day after Justice Juan Merchan threatened Trump with jail time if he violated rules preventing him from speaking publicly about the case.
Shares of Trump Media, owner of the Truth Social media platform, added 1.5% in premarket trading to $48.37. The stock finished Monday 3.1% lower. It’s up almost 40% over the past month, but still well off its highs around $66 at the end of March.
Donald Trump, the presumptive Republican nominee for president in this year’s election, owns more than 60% of Trump Media. He isn’t allowed to sell down his stake for five more months as part of a tie-up agreement.
Write to Brian Swint at [email protected]