Shares of Trump Media & Technology Group Corp. (DJT) are experiencing a surge in trading volume on Wednesday, with the stock trending across social media platforms. Investors are piling into the stock, potentially driven by recent developments surrounding Donald Trump’s campaign and a potential shift in the political landscape.
The increased interest in DJT stock comes after comments made by Nicole Shanahan, Robert F. Kennedy Jr.’s running mate, in an interview on the “Impact Theory” podcast. Shanahan hinted at the possibility of suspending Kennedy’s independent presidential campaign and endorsing Trump’s candidacy. This move could significantly impact the 2024 General Election, potentially uniting conservative voters behind Trump and preventing a split that could benefit other candidates.
Shanahan acknowledged the strategic dilemma facing their campaign, stating, “There’s two options that we’re looking at and one is staying in, forming that new party, but we run the risk of a Kamala Harris and Walz presidency because we draw votes from Trump, or we draw somehow more votes from Trump.” She further elaborated, “Or we walk away right now and join forces with … Donald Trump.”
This news comes as Donald Trump is scheduled to hold a rally in North Carolina later today at 2:00 p.m. ET. In a post on Truth Social, Trump indicated that his remarks will focus on national security. Simultaneously, the Democratic National Convention is ongoing in Chicago, with Vice President Harris, the Democratic presidential nominee, scheduled to deliver her acceptance speech on Thursday night.
While DJT stock saw a rally after Trump survived an assassination attempt on July 13th, it has since experienced a decline of around 30% over the past month. This volatility reflects the market’s sensitivity to political events and their potential impact on Trump’s campaign.
Investors are closely watching the stock’s trajectory, attempting to gauge its future prospects. Some are using technical analysis, such as moving averages and trend lines, to forecast potential price movements. The prevailing sentiment suggests that a stock trading above its moving average is generally considered bullish, indicating positive momentum. Conversely, crossing below the moving average might be perceived as a bearish signal. By analyzing trends and using these technical indicators, investors can form educated guesses about DJT’s future price action, assuming stable market conditions.
At the time of writing, DJT shares are up 14.1% at $24.43. This surge in price reflects the market’s immediate reaction to Shanahan’s comments and the potential political implications they carry. The coming days will be crucial in observing how this news develops and its impact on the 2024 presidential race.
