Investing.com -- Shares of Trump Technology & Media (DJT) climbed another 14% at the open on Tuesday, building on Monday’s sharp gains following a high-profile rally by Republican presidential nominee Donald Trump in New York City.
The rally at Madison Square Garden drew thousands of Trump supporters to the heart of Manhattan, signaling momentum for the former president heading into the upcoming election.
DJT stock, which surged 21% on Monday, is now trading at levels not seen since May this year.
Trump’s campaign activities appear to be fueling enthusiasm among pro-Trump retail investors, who view the stock as both a financial bet and a show of political support.
Trump owns nearly 57% of Trump Media, which operates the Truth Social platform. At the stock’s recent highs, Trump’s stake was valued at about $5.4 billion, marking a dramatic recovery from late September, when DJT shares dipped below $12.
In October, the stock reversed course, aligning with a shift in the Republican nominee’s favor on political betting platforms.
Analysts suggest that DJT's share price movements reflect traders’ optimism about Trump’s political prospects more than the company’s fundamentals.