After the news broke out that the former United States president and current presidential candidate Donald Trump has regained popularity over his rival, Vice President Kamala Harris on prediction markets, the price of Trump Media (NASDAQ: DJT) stock has reacted accordingly.
As it happens, since September 4, the day the news came out, the price of DJT stock has climbed by 6.24%, from $16.98 to the last closing price of $18.04, or 7.48% to its current pre-market price of $18.25, as per the most recent chart data retrieved by Finbold on September 10.
DJT stock price analysis
At the same time, Trump Media stock is recording a 5.50% increase on the day, a 4.90% decline across the past week, and a massive drop of 27.49% in the last month, although it has accumulated an advance of 3.38% on its year-to-date chart, as the latest price data demonstrates.
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In other words, the price of DJT shares has returned a bit closer to the level it was trading at a week ago amid a continuous downtrend it has been witnessing since mid-July this year, far below the 2024 high of $66.22 from late March and the all-time high (ATH) of $97.54 from early March 2022.
Trump vs. Harris in prediction markets
As a reminder, on September 4, Trump retook the lead over Harris on Polymarket, the cryptocurrency-based platform taking bets in the regulated dollar stablecoin USD Coin (USDC), which currently shows the former U.S. president as having a 52% chance of winning versus Harris’s 45%.
Meanwhile, it is also worth noting that Bernstein analysts have set the price of the leading crypto asset, Bitcoin (BTC), between $30,000 and $40,000 should Harris win the presidential election due to her lack of stance on the crypto market in general, whereas Trump’s victory could lead to Bitcoin between $80,000 and $90,000.
Indeed, unlike his opponent, Trump has been very vocal about his support for the crypto industry, vowing to make the U.S. “the Bitcoin and crypto capital of the world” and talking about it in his speeches and plans, which is why many in the crypto community believe he would be a more favorable president.
All things considered, Trump Media stock does, indeed, seem to react in accordance with major Trump-related developments, and it is safe to assume that it would particularly benefit from his potential success in the upcoming debate against Harris and re-election as the U.S. President. However, doing one’s own research is critical when investing.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
