Trump Media & Technology Group, which operates the social media network Truth Social, now trumps the estimated value of Elon Musk’s X as Election Day looms.
Trump Media & Technology Group (TMTG) is now valued at over $10 billion after its shares more than quadrupled since late September.
Meanwhile, X Holdings, which was taken private two years ago, is valued at around $9.4 billion, based on the most recent value the investment group Fidelity assigned to its stake in the company.
TRUMP’S TRUTH SOCIAL LOST $58 MILLION IN 2023, AND THE STOCK IS TAKING A HIT
Truth Social’s worth has soared in recent weeks as Nov. 5 nears. On Tuesday, the stock rose almost 9% to $34.17.
TRUMP MEDIA SHARES SURGE IN MARKET DEBUT
Since its listing, Trump Media has been popular with traders who view it as a speculative bet on Trump winning the Nov. 5 election. He owns 57% of the company, making his stake now worth almost $4 …