Shares of Trump Media & Technology Group (DJT) soared 5.03% in Friday's intraday trading session, as investors positioned themselves ahead of Donald Trump's inauguration as the 47th President of the United States on January 20.
The rally marked a significant departure from the stock's largely muted performance since Trump's election victory in November. Despite some investors purchasing DJT shares to show support for the Republican nominee, the Truth Social parent company has struggled to gain traction due to its weak financials and lack of a competitive edge in the crowded social media landscape.
However, with Trump's inauguration looming, traders appear to be speculating on potential policy changes or regulatory tailwinds that could benefit the company under the new administration. While the specifics remain uncertain, the market's renewed interest in DJT suggests optimism that Trump's second term could provide a much-needed boost to the embattled social media platform.
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