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Shares of Trump media company surge to highest in six weeks
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Shares of Trump media company surge to highest in six weeks
Oct 10, 2024 11:42 PM

NEW YORK, Oct 10 (Reuters) - Shares of former U.S.

President Donald Trump's media company hit their highest closing

level in about six weeks on Thursday, with the stock rising

17.3% on brisk volume as it extended recent gains.

Trump Media & Technology Group ( DJT ), which is 57% owned

by the Republican presidential nominee running against Vice

President Kamala Harris, is now up 46% for the week so far,

closing at $24.12.

About 44 million shares exchanged hands in the session,

roughly triple their 30-day average volume, according to LSEG

data.

Trump's odds of winning the Nov. 5 U.S presidential election

have edged higher on PredictIt in recent days, climbing to 52

cents from 49 cents a week ago.

Harris' odds are the same at 52 cents, but they are down

from 55 cents a week ago, according to PredictIt.

PredictIt is an online prediction marketplace that offers

investors clues to the outcome of the election, outside of

traditional political polls.

A new Reuters/Ipsos poll this week showed Harris leading

Trump by a marginal three percentage points, 46% to 43%, as the

two remain locked in a close race.

Trump Media ( DJT ) saw its value balloon to nearly $10 billion

following its Wall Street debut in March, lifted by Trump

supporters and retail traders who saw it as a speculative bet on

his chances of securing a second four-year term as president.

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