10 sources·Business

Trump Media Soars in Value, Exceeds Musk's X Holdings

Trump Media & Technology Group's stock surge leads it to surpass Elon Musk's X in valuation amid political speculation surrounding Trump's 2024 campaign.

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Updated: Oct 29th, 2024, 8:21 PM ET

Summary

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Trump Media & Technology Group (TMTG) has experienced a stock surge of more than 340% since September, now valued at over $10 billion, surpassing Elon Musk's X Holdings. The stock's rise correlates with increasing political forecasts favoring Trump in the upcoming election. Despite its market valuation improvement, TMTG continues to face financial struggles, posting significant losses while generating minimal revenue. The trading volatility has drawn comparisons to 'meme stocks' and raises questions about the company's long-term viability.

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