We recently published a list of 10 Firms Dominate Monday Upsurge. In this article, we are going to take a look at where Trump Media & Technology Group Corp. stands against other firms that dominated Monday upsurge.
Ten companies—predominantly in the healthcare sector—kicked off Monday’s trading with notable gains amid a series of business updates, earnings, and acquisition deals that have fueled investor confidence.
Their gains outperformed mixed trading on Wall Street, with the Dow Jones and S&P’s main index the only gainers, up 0.86 percent and 0.16 percent, respectively. Meanwhile, the Nasdaq Composite dropped by 0.38 percent.
In this article, we will take a look at what buoyed the companies’ share prices.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
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Trump Media & Technology Group Corp. (NASDAQ:DJT)
Shares of Trump Media & Technology Group Corp. spiked by 21.52 percent on Monday to finish at $42.91 each, two weeks ahead of incoming president Donald Trump’s return to office.
Monday’s trading marked the company’s largest single-day jump since Trump won the presidential election.
Trump Media, which is owned by the president-elect, is an American media and technology company headquartered in Florida. It runs the Truth Social social media platform.
Trump Media has remained in a precarious financial position over the past couple of years. The company reported yet another quarterly loss in its third-quarter earnings last November. In the three months ended Sept. 30, Trump Media lost $19.2 million, with revenue falling 5.6% to just $1.01 million from a year earlier.
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This article is originally published at Insider Monkey.