Shares of Bakkt Holdings Inc. surged over 100% following reports that Trump Media & Technology Group Corp. is in advanced talks for an all-share acquisition of the digital-asset marketplace. The Financial Times cited unnamed sources regarding the negotiations. Bakkt"s market capitalization reached $155 million on Friday.
Trump Media & Technology Group Corp. saw its valuation soar to nearly $7 billion as investors bet on Donald Trump's potential reelection, with shares surging by 62% ahead of his expected win. However, the stock experienced significant volatility, dropping about 20% before rebounding by 16% on Friday, prompting a trading halt after Trump reaffirmed he would not sell any shares.
On November 6, 2024, the Swiss stock market opened stronger following predictions of Donald Trump's victory in the U.S. presidential election. The euro traded at CHF 0.9362 and the dollar at CHF 0.8733, while oil prices dipped slightly. In pre-market trading, shares of Trump Media & Technology Group surged over 40%, nearly doubling in value since their March debut, after Trump claimed victory over Kamala Harris.
The Dow Jones experienced its largest pre-market surge in two years following Donald Trump's election victory, with Trump Media shares soaring over 40%. Traders anticipate a year-end rally, while the upcoming US Federal Reserve meeting is expected to address potential rate cuts amid shifting policy dynamics.
Stocks, the dollar, and yields surged on US election night, with S&P 500 futures up nearly half a percentage point and US 10-year yields rising to 4.35%. The market reacted positively to the prospect of a Republican victory, boosting Trump Media & Technology Group and Tesla, which stands to gain from either party's win. Smaller companies also saw gains, reflecting expectations of a Republican win benefiting domestic operations, while international equities showed mixed results.
Shares of Trump Media & Technology Group surged 10.4% in after-hours trading as voting concluded in a heated presidential election, despite a reported loss of $19.2 million in the third quarter. The stock has been volatile, reflecting the fluctuating fortunes of Donald Trump in his race against Democrat Kamala Harris, with a notable 105% increase over the past month. CEO Devin Nunes highlighted the quarter's significance for Truth Social users and retail investors, emphasizing the company's mission for free speech online.
Trump Media & Technology Group reported a net loss of $19.2 million in the third quarter, primarily due to $12.1 million in legal fees related to its TV streaming technology acquisition and residual costs from its SPAC deal. Additionally, the company spent $3.9 million on research and development. Despite the losses, shares rose about 2% in extended trading.
Donald Trump's media company reported a net loss of $19.2 million for the third quarter, with revenue exceeding $1 million. The company's valuation stood at $7.4 billion, but its stock experienced volatility, initially dropping 8% in post-market trading before recovering to a 1% increase.
Trump Media reported a $19.2 million loss in the third quarter, with revenue dropping 5.6% to $1.01 million, surprising investors on Election Day. Despite a volatile trading week, shares rose slightly in after-hours trading, while the company holds $673 million in cash and no debt. CEO Devin Nunes highlighted ongoing efforts for growth amid these challenges.
Shares of Trump Media & Technology surged 15% on Election Day as traders speculated that a potential second Trump presidency would enhance the business prospects of Truth Social. The stock, trading under the ticker DJT, has nearly doubled year-to-date but faced a 33% decline over the past week amid increased competition from Vice President Kamala Harris. Despite the volatility, retail trading activity has surged, making it a hot topic on platforms like WallStreetBets.
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