Election Campaign Intensity Drives Trump Media's Stock Price Up

The shares of Trump Media & Technology Group recorded a notable increase of 17 percent on Monday. This trend follows the rising betting odds predicting a potential victory for the Republican candidate Donald Trump in the closely contested race for the White House. The price of Trump Media shares, of which Trump owns 57 percent, received an additional boost from reports that the Democratic candidate Kamala Harris has agreed to an interview on the conservative television channel Fox News. Due to recent developments, another increase of 53 percent was observed in the previous week, which was able to compensate for a significant part of the recent losses. On betting platforms such as PredictIt, contracts for a possible Trump victory are trading at 53 cents, while Harris contracts are at 49 cents. On Oddschecker.com, the probability of Trump's victory is about 55 percent, compared to 45 percent for Harris. A recent Wall Street Journal poll shows a tie between the two candidates in key swing states that could affect the election outcome. Next Wednesday, Bret Baier, a prominent Fox News anchor, will conduct the interview with Harris. The ongoing tension in the presidential race has driven the value of Trump Media to almost $10 billion since its stock market debut in March. However, this valuation is speculative, as Trump's media company appears to be heavily overvalued with a revenue comparable to two Starbucks locations compared to its market capitalization of $6 billion.