Trump Media & Technology (NASDAQ:DJT) stock is still heading higher on Wednesday as the hype around shares continues on their second day of trading.
The first day of trading was already positive for DJT stock, with the shares closing out Tuesday up more than 16%. That rally is continuing today with the stock up 18% as of this writing.
That comes as investors continue to trade large amounts of DJT shares. That has more than 19 million units changing hands this morning. The stock saw similar strong movement yesterday with its debut.
What to Know About DJT Stock
First off, shares of Trump Media & Technology stock started trading following a special purpose acquisition company (SPAC) merger with Digital World Acquisition. However, the wild movement shares are seeing is likely tied more to former President Donald Trump rather than the business itself. With it being an election year and Trump in the running, investors are likely to see volatility out of DJT throughout 2024.
It’s also worth mentioning that this has DJT stock acting more akin to a meme stock. While that means it could see major gains in the months to come, waning interest in it could pull shares down. That’s something to keep in mind before taking a stake in the company.
Investors who want more of the most recent stock market stories are in luck.
We have all of the hottest stock market news for Wednesday. Among that is why shares of Reddit (NYSE:RDDT), GameStop (NYSE:GME) and Gamida Cell (NASDAQ:GMDA) stock are moving today. You can find out more at the following links!
More Wednesday Stock Market News
- Hedgeye Warns That Reddit (RDDT) Stock Will Fall 50%
- Wedbush Just Cut Its Price Target on GameStop (GME) Stock
- Why Is Gamida Cell (GMDA) Stock Down 82% Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
