Truth Social stock surges
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Shares of Truth Social's parent company soared, sank and soared again today, triggering several trading halts.
Between the lines: Investors appear to be betting — with growing confidence — on Donald Trump recapturing the White House. And the social media company's been a popular chip in that bet, despite having little revenue.
Driving the news: Trading on Trump Media & Technology Group, under the ticker DJT, was halted at 9:41, 9:47, 9:55 and 10:26, according to the New York Stock Exchange.
- The stock traded in the range of about $46 to more than $54 today.
Zoom out: Since hitting a low in late September, shares have gained over 330%.
The bottom line: The recent run-up in the stock price has taken Trump's stake in the company to around $6 billion, but that could dwindle if he loses the election.
