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Despite generating minimal revenue and operating at a loss, Trump Media & Technology Group is experiencing a dramatic surge in value.
Wall Street now values the company at nearly $8 billion, a price tag that has tripled in just five weeks, CNN reported.
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Market analysts attribute this surge to speculation that former President Donald Trump will win the 2024 presidential election.
Trump Media & Technology Group’s (TMTG) stock is acting more like a meme stock, trading not on financial performance but hype and momentum linked to Trump’s political fortunes.
“This company’s value is almost entirely based on the outcome of the election,” said Gene Munster, co-founder of Deepwater Asset Management. With Trump as the dominant shareholder, his 114.75 million shares are now worth about $4.5 billion — up significantly from $1.4 billion last month. […]
— Read More: dallasexpress.com
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