DJT stock extends losses as investors await election outcome

Trump Media & Technology Group (DJT) shares continued their downward slide ahead of the presidential election, plunging nearly 12% during Thursday's trading session. The company has lost approximately $3 billion in market value since Tuesday.

Market Domination Hosts Alexandra Canal and Josh Lipton analyze the stock's behavior, noting how it mirrors a meme stock and moves in correlation with Donald Trump's presidential election betting odds.

To watch more expert insights and analysis on the latest market action, check out more Market Domination here.

This post was written by Angel Smith

Video Transcript

Shares of Trump Media and Technology Group are plunging today.

The stock extending its double digit decline amid election uncertainty, you seeing shares down about 12%.

Now, this comes after we saw the stock experience its largest percent decline on Wednesday shares plunged around 22% yesterday.

We're seeing those declines extend today.

And since Tuesday, more than $3 billion has been saved from the company's market capital of the stock is up around one and 30% from its September lows.

So I guess if you want to look for some optimism there, if you're a shareholder, but look DJ T it operates very much like a meme stock.

We've seen this rise over the past few months as betting odds moved in favor of the former president winning the election.

Uh but you know, it's really just taken on a life of its own at this point as we, we see this meme like personification of shares and, and I spoke with Steve Sosnick from interactive brokers.

He told me, look, you're going to to see these volatile swings to the upside also to the downside.

So something like this is to be expected and there will be more volatility as we had closer and closer to that election day.

Yeah.

And market watch had an interesting com they were selling JP Morgan data saying retail investors are exiting their positions.

They've been selling shares of DJ T aggressively.

I mean, may maybe to your point, you know, this one is so hyper volatile.

So you hit a 52 week low on September 21st and then you rally hard, right?

You hit this, this uh intraday high in late October, then we lost the momentum.

So maybe some retail investors thinking they'll book profits for now, right?

And look if Trump loses the election, there's been some strategists that say this is a stock that could go down to zero.

So you maybe want to sell ahead of that.

Although if he wins, then does it become his platform eyeballs markers?