Tue Oct 29 13:40:00 UTC 2024: ## Trump Media Stock Surges, Halted Multiple Times for Volatility
**NEW YORK** – Shares of Trump Media, the company majority-owned by former President Donald Trump, experienced wild swings on Tuesday morning, triggering multiple trading halts due to extreme volatility.
The stock, which trades under the ticker symbol DJT on the Nasdaq, was halted five times in the first hour of trading, with prices surging as much as 14% before plummeting more than 2%.
The volatility comes after a surge in trading volume and a significant price increase on Monday. Trump Media stock has seen a dramatic rally since late September, with its share price quadrupling since hitting a low in early October. This rally has coincided with an increase in political betting markets that favor Trump’s odds of winning the upcoming presidential election against Democratic nominee Kamala Harris.
Analysts believe the stock’s recent gains are fueled by pro-Trump retail investors who are buying shares to support the former president or bet on his success in the election.
Trump owns nearly 57% of Trump Media, which operates the social media platform Truth Social. His stake is currently worth over $6 billion, representing more than half of his estimated net worth.
Despite significant losses in recent quarters, Trump Media maintains a market capitalization exceeding $10 billion. The company’s success hinges largely on the continued support of its pro-Trump investor base.
**CNBC will continue to monitor this developing story. **
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