Trump’s social media stock is making an epic comeback as election nears
Former President Donald Trump’s social media company is heating up on Wall Street, driven by perceptions of his chances to reclaim the White House.
Until recently, Trump Media & Technology Group was struggling, with its stock price hitting a record low of $12.15 on September 23—a steep 82% decline from its peak.
Now, however, the owner of Truth Social is experiencing a dramatic comeback, more than doubling its share price in under three weeks, including a nearly 50% surge last week alone.
This sharp rebound is notable, especially for a stock known for its volatility and sometimes likened to a meme stock on steroids.
Interestingly, Trump Media hasn’t announced any new revenue streams, products, or endorsements from major shareholders or Wall Street analysts that might explain this surge.
Instead, the rally is largely fueled by growing speculation about Trump’s chances in the upcoming election. For many traders, Trump Media has become a proxy for betting on the election’s outcome.
While the race for the White House remains incredibly close, recent polls and betting markets have shifted slightly in Trump’s favor.
Harris and allies funnel resources into North Carolina in early October
In the first two weeks of October, Kamala Harris’ campaign and its allies poured resources into North Carolina, seizing on the political fallout surrounding the GOP’s scandal-ridden nominee for governor and the state’s recovery from Hurricane Helene.
According to AdImpact data, from October 1 to October 14, the Harris campaign and its supporters spent $19.8 million on advertising in North Carolina—$11.1 million more than the $8.7 million spent by the Trump campaign and its allies.
This spending gap was the largest among all battleground states in early October, with Democrats only outspending North Carolina’s ad budget in two other key states: Pennsylvania and Michigan.
