Trump Media & Technology Group Corp (NASDAQ:DJT) shares are trading higher Tuesday amid ongoing volatility ahead of the 2024 presidential election and this week’s vice presidential debate. The company also announced that its custom-built content delivery network is now operating from multiple sites across the country.
What To Know: Trump Media shares have traded with elevated volatility in recent weeks. Trump Media, which is the parent company of social media platform Truth Social, made its public debut in late March, but majority shareholder Donald Trump and several other insiders were restricted from selling any shares until the lockup period ended about two weeks ago.
Trump Media shares fell from around the $19 level to around $12 over the course of a week as the lockup period came to a close, but the stock is now up more than 25% over the past five trading days heading into Tuesday’s vice presidential debate between Minnesota Gov. Tim Walz and Ohio Sen. J.D. Vance.
There are now less than 40 days until the presidential election, set for Nov. 5. Most betting platforms have Vice President Kamala Harris listed as a slight favorite with -125 odds to win versus Trump’s +100 odds.
Check This Out: Walz Vs. Vance VP Debate Betting Odds, What Candidate Is Favored? Plus, How To Watch, Likely Topics And More
Trump Media shares may also be getting a lift Tuesday after the company announced that its custom-built content delivery network (CDN) is operating from multiple sites across the country.
Trump Media said the expansion of its CDN, which powers the Truth+ TV service, transforms it into a more sophisticated network with streaming content originating from multiple geographic locations. The company aims to create a TV streaming platform that delivers news, Christian content and family friendly programming.
“We’re pleased to report our CDN is operating excellently and is quickly enhancing,” said Devin Nunes, CEO of Trump Media.
“With additional data centers expected to open soon, our TV streaming capabilities and content are expanding rapidly, consistent with Truth Social’s goal to become the unassailable fortress of free speech on the Internet.”
DJT Price Action: Trump Media shares were up 5.10% at $16.90 at the time of publication, according to Benzinga Pro.
Photo: Shutterstock.
