Trump Media and Technology Group (DJT) saw a surge in trading volume on Wednesday and became a social media trending topic as investors flocked to the stock, which continues to be volatile during Donald Trump's election campaign.
Possible RFK campaign shakeup:
Trump Media's stock price has fluctuated frequently in response to the changing circumstances surrounding Donald Trump, and investors may be reacting to comments made by Robert F. Kennedy Jr.'s running mate Nicole Shanahan in an interview yesterday on the “Impact Theory” podcast.
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In the interview, Mr. Shanahan suggested he might end Mr. Kennedy's independent presidential campaign and support Mr. Trump's candidacy, a move that would help Mr. Trump's campaign and avoid dividing conservative voters ahead of the 2024 general election.
“We're looking at two options: either we stay and start a new party, but there's a risk that Kamala Harris and Walz will become president, either by collecting votes from Trump or by somehow collecting more votes from Trump,” Shanahan said in an interview. “Or we get out now and align ourselves with Donald Trump.”
what else:
Donald Trump is scheduled to hold a rally in North Carolina on Wednesday at 2pm ET. In a post on Truth Social, Trump said he will be speaking about national security.
Additionally, the Democratic National Convention continues this week in Chicago, with presidential candidate Vice President Harris scheduled to deliver her acceptance speech on Thursday evening.
Trump Media shares have fallen about 30% over the past month after rising after President Trump survived the July 13 assassination attempt, according to data from Benzinga Pro.
DJT Stock Price Prediction 2024:
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of rating and forecasting, but many in the trading industry turn to technical analysis as a way to create models that predict stock price trajectories.
Some investors look at trends to predict what level a stock will trade at at a particular point in the future. Looking at Trump Media & Technology, investors can use moving averages and trend lines to assess a stock's long-term prospects. Investors who believe a stock will rise above its moving average, which many consider a bullish signal, can then use trend lines to extrapolate that trend into the future.
Traders consider it to be generally a bullish signal when a stock price is above its moving average, and a more negative signal when it is below. Investors can use trend lines to make educated guesses about where a stock price will trade at a later date if conditions remain stable.
DJT Price Action: Trump Media & Technology Group shares were up 14.1% at $24.43 as of Wednesday's announcement, according to Benzinga Pro.
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