In this article DJT Follow your favorite stocks CREATE FREE ACCOUNTOmar Marques | Lightrocket | Getty ImagesShares of Trump Media shot up as much as 19% Thursday morning, keeping up the momentum of a rally that has recovered some of the Truth Social operator's steep losses from a recent weekslong sell-off.
DJT stock was trading around $24 per share shortly after the market open, more than double the $11.75 price it fetched in an intraday trading low, just over two weeks ago.
Stock Chart Icon Stock chart icon Trump Media (DJT) Stock PriceThe surge came amid little positive news about the company, but coincided with some recent presidential election polls and other indicators that allies of former President Donald Trump, its majority shareholder, took as positive signs.
"It doesn't have anything to do with fundamentals," said Anne Stevenson-Yang, founder and research director of short seller J Capital Research, in an interview with CNBC.
"It's a bet on Trump, is all," she said.
Persons:
Omar Marques, Donald Trump, Trump, Anne Stevenson, Yang
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Lightrocket, Getty, Trump Media, Republican, White, J Capital Research, CNBC, Trump