Former president Donald Trump’s Trump Media & Technology Group Corp. is powering higher on Wednesday after a stellar debut, as investors use it as a way to bet on Trump’s 2024 re-election campaign.
Investors are flocking back to the parent company of Truth Social, driving shares up nearly 12% as of 11:13 a.m. Wednesday — paring an earlier increase, but still adding some $959 million to its value. The steady move higher comes after the stock jumped to a roughly two-year peak on Tuesday when the media startup traded for the first time as a public company. The gains bring Trump’s personal stake to more than $5 billion, adding to the former president’s paper wealth.
