Trump Media Gets Sky-High Valuation as Bettors Play Election
- Shares have doubled as betting markets start favoring Trump
- ‘Meme stock that is solely valued on Trump winning’: Tuttle
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Donald Trump’s media startup has taken investors on a wild ride, with the company shedding more than $7 billion in value from its May high to its September bottom, and then regaining nearly $3 billion in less than one month.
Nothing fundamental is driving the rally, as Trump Media & Technology Group Corp. reported just $1.6 million in sales through the first six months. And third-party tracking data show that its Truth Social platform hasn’t topped one million daily active users in the past year.