Key Takeaways
- Shares of the parent company of Donald Trump’s Truth Social platform were halted Tuesday after suddenly turning lower.
- Shares had soared earlier in the day as 2024 election odds shifted in former President Donald Trump’s direction on Polymarket.
- Truth Social on Monday introduced a web version of its Truth+ streaming service.
Shares of the parent company of Truth Social were halted Tuesday due to volatility after suddenly turning lower.
Trump Media & Technology Group (DJT) shares had soared earlier in the session, on the heels of an 18% jump Monday. The stock had raced upward from September lows, trading at levels last seen in July.
The earlier gains came as the perceived likelihood that former President Donald Trump, majority owner of Trump Media’s shares, could win the 2024 presidential election race against Vice President Kamala Harris rose. Trump’s chances on prediction market Polymarket have climbed roughly 3 percentage points since Monday to around 58%.
Trump Media on Monday launched a web version of its Truth+ TV streaming service. The platform includes a selection of “news, entertainment, faith-based programming, weather, documentaries, children’s content, and more.”
In addition to a recently announced Truth+ Android app, the company says it plans to introduce an iOS app and bring the service to connected TV platforms including Apple TV and Amazon Fire.
Trump Media shares were down more than 11% at $26.60 in Tuesday afternoon trading, well off their April highs around $80.
UPDATE—Oct. 15, 2024: This article has been updated to reflect more recent share price information.
