Trump Media & Technology Group Corp ( DJT ) stock had multiple volatility halts Tuesday morning as prices fluctuated significantly.

The stock was halted at 9:36 a.m. ET, showing a 14% gain, and again at 9:42 a.m., with shares up by nearly 9%, CNBC reports.

At 10:21 a.m., the stock fell over 2%, prompting further halts.

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Trading volume was intense, with 16 million shares exchanged in the first 10 minutes, quickly surpassing the 30-day average of 35.1 million by 10:15 a.m., as per CNBC.

At the time of writing, DJT stock has traded 135.9 million shares compared to a 100-day average of 19.42 million.

The volatility followed Trump Media’s 21% surge on Monday, adding to a pre-election rally that began in late September after a prolonged slump.

On Monday, Trump Media ( DJT ) stock surged following Republican presidential candidate Donald Trump’s rally at Madison Square Garden, giving the company a market cap of roughly $9.48 billion, Variety reports.

Trump’s commitment to retaining his shares fuels the ongoing rally, making the stock a unique political proxy on Wall Street and driving it with meme stock-style hype.

Analysts project Trump’s fiscal proposals, including expanded tax breaks, to add $7.5 trillion to the national debt over the next decade. Interest in “Trump trades” like dollar assets and bitcoin is growing as markets anticipate a potential Trump victory.

The rally comes despite the company’s reported total revenue of $1.6 million for the first half of 2024 and ongoing losses.

Trump Media ( DJT ) stock now exceeds four times their previous month’s low, marking a 224% increase this month, the most significant gain since October 2021.

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Trump Media ( DJT ) surpassed the valuation of Elon Musk’s X, formerly Twitter. Since Musk acquired Twitter in 2022 for $44 billion, the value of X has dropped significantly. Fidelity’s recent valuation estimated X at around $9.4 billion, as per Variety.

This spike in share value comes as Trump’s ownership, approximately 57% of the company, gained significant worth, with his stake valued at over $6 billion by Tuesday’s open.

Despite recent losses and low revenue, Trump Media’s market cap now exceeds $10 billion.

Trump Media & Technology ( DJT ) is likely to have an elevated valuation due to its proxy as a political trade. The stock could fall if Trump loses the 2024 election, the former president sells his stake, or after the election is over and investors take profits.

Trump Media ( DJT ) stock surged 41% in the last five days and over 211% in the last 30 days.

Price Action: DJT stock is up 10.20% to $52.20 at the last check on Tuesday.

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