Investing.com -- Shares of Trump Media & Technology Group (NASDAQ:DJT) soared 14% as the market responded to the anticipated inauguration of President-elect Donald Trump scheduled for next Monday, January 20, 2025. The uptick in the company's stock comes amidst a flurry of trading activity in the options market, with a notable increase in contracts ahead of the event.
Investors appear to be optimistic about the impact of the upcoming inauguration on Trump Media & Technology Group, as the company's shares experienced a significant rise. The trading session saw a surge in options activity, with call volume reaching 134,768 compared to put volume of 14,944, as reported by Bloomberg. Among the most traded contracts were the January 17 $40 calls and the January 24 $70 calls, signaling a bullish stance from traders.
The inauguration of President-elect Trump is not only a political milestone but also seems to be a catalyst for the company's stock movement. The event has garnered attention due to Trump's historical preoccupation with crowd sizes at his events. With his second inauguration approaching, the focus on attendance figures remains high, with concerns that the National Park Service might once again be drawn into a crowd-size controversy.
In preparation for the event, the Trump inaugural committee has been finalizing arrangements for what they describe as "an unforgettable string of events," expected to draw a diverse group of supporters and dignitaries to Washington, D.C. Despite the committee's reluctance to provide specific attendance numbers, the permit application from the National Park Service currently includes a placeholder estimate of 500,000 people on the National Mall.
The stock's movement reflects the heightened interest and speculative sentiment among investors as the inauguration nears. The company's performance in the stock market today echoes the broader anticipation of the event and its potential implications for Trump Media & Technology Group's future endeavors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.