Trumps stock surges on the last day before the election | Money [Video]

(CNN) — Shares of former President Donald Trump’s social media company roared higher on the final day before the US presidential election.

Trump Media & Technology Group (DJT), the parent company of Truth Social, surged 15% Monday. There was no apparent catalyst for the increase.

The stock has been highly volatile since it went public in March: It quadrupled in value over a five-week span before plunging by 41% over the past three trading sessions.

Traders have used Trump’s stock as a kind of barometer for the former president’s perceived reelection chances. If Trump is reelected, Truth Social could become an increasingly important communication tool, in the way that the former president used Twitter to disseminate policy and other information during his administration. If Vice President Kamala Harris wins, the business prospects for Truth Social are likely nonexistent.

The company’s shares do not trade on the fundamental health of the company’s business, which …