Trump Media & Technology Group (DJT.US) shares rose over 40% after-hours as he was projected to lead with 210 votes.
1min read Shares of Trump Media & Technology Group (DJT.US), the media company of former President Donald Trump, rose 10% in after-hours trading on election day and further rose about 43% in special late trading on Robinhood brokerage, trading above $48 per share. The stock defied the market and rose despite the company reporting an unexpected loss of $19.2 million in the third quarter. The stock is seen as a reflection of the market's view of Trump's reelection prospects, as the former president competes against Democratic Vice President Kamala Harris in a volatile election season. Shares of Trump Media & Technology Group have soared more than 105% in the past month, while shares of Harris have fallen more than 34% in the past five trading days.
The company reported revenue slightly above $1 million. CEO Devon Nunes, a former California state representative, highlighted in a statement that the quarter was an extraordinary one for the company, for Truth Social users and for retail investors who support the company's mission.
While Trump's victory may not fully determine the stock's trajectory, other factors such as profit-taking could also affect the stock, given its already significant rise this year.
