Shares in former President Trump's social media company surged climbed over the past two trading sessions after tanking for several weeks.Shares in former President Trump's social media company surged climbed over the past two trading sessions after tanking for several weeks.Shares of Trump Media & Technology Group surged 26% on Thursday, marking a second consecutive day of strong gains.
The rally over the past two days marks a rare reprieve for the company behind the Truth Social app, which is trading under the stock symbol DJT. The stock ended up more than 15% on Wednesday.Nonetheless, the recovery in shares over the past two days was cheered by Truth Social members who identified themselves as small shareholders.
"In a couple years I will be really rich or really broke. I chose to believe that free speech and Truth will win out in the end,"on Wednesday afternoon."I have no plan to sell anytime soon. It's been a painful rollercoaster of a ride but my conviction is still strong!!"Short selling is when investors bet a share will fall, and many small shareholders have blamed these bets as responsible for the company's poor performance since its trading debut.
Despite the latest share gains, professional investors cautioned the outlook was not good for Trump Media, putting some of the small investors who are holding onto the stock at risk. "It's only a matter of time where they become disillusioned," says Julian Klymochko, CEO of Accelerate Financial Technologies.. The company also said it would be launching live video streaming, which investors regarded as a risky and expensive bet.