Trump Media and Technology Group (NASDAQ: DJT), the parent entity of Truth Social platform, is exploding higher today in affinity with the so-called Trump trade – a conglomeration of bets on select stocks and cryptocurrencies that stand to benefit from a Trump presidency.
As of the time of writing, Trump is on the verge of clinching at least 270 electoral college votes, setting the stage for his second term in the White House. Crucially, Kamala Harris has no viable path left to clinching the all-important majority in the electoral college.
This outcome is now manifesting in outsized gains in not just Trump Media shares, which are currently up around 32 percent in early pre-market trading, but also Tesla shares and Bitcoin.
The president-elect’s gigantic 59 percent stake in Trump Media and Technology Group (TMTG) corresponds to 114.75 million shares. Based on the current stock price of $45 per share, Trump Media now boasts of a market capitalization of $9 billion. This means that Trump’s stake is currently worth a whopping $5.3 billion.
Meanwhile, Tesla is currently up 13 percent in pre-market trading. Bear in mind that Elon Musk has pledged to head a government efficiency commission in the incoming administration. Moreover, Bitcoin is up ~6 percent right now, and continues to flirt with all-time highs. Trump has already promised to establish a strategic Bitcoin reserve. Moreover, the SEC under his administration is expected to adopt a much more benevolent stance towards the crypto sector in general. For a broader readout of the ramifications for…
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