Trump media stocks on the rise: Speculations about election success boost price developments

The shares of former US President Donald Trump's media company experienced a remarkable surge on Monday, climbing to their highest level since June. This increase is attributed to the heightened likelihood of Trump's success in the presidential election, as suggested by current betting odds. In particular, the shares of Trump Media & Technology Group, which operates the Truth Social app, saw a 20% jump, reaching a value of $46.93. Since the low point in late September, the stock's value has nearly quadrupled, fueling investor interest as a speculative investment. Trump holds 57% of the company's shares, currently granting him a fortune exceeding $5 billion. Despite this impressive stock performance, the company faces financial challenges, as it generated revenues of only $837,000 in the June quarter and continues to burn cash. Strategists caution that the current market value of $9 billion contradicts the company's operational reality. A few days before the election, the betting odds show a clear preference for Trump over Democratic candidate Kamala Harris. However, the race remains competitive and tightly contested in key swing states. According to Oddschecker.com, Trump currently has a 62% chance of winning, while Harris stands at 38%. On the PredictIt platform, contracts for a Trump victory are trading at 61 cents, while Harris is at 43 cents. Polymarket sees Trump as the likely winner with a 66% chance. It is also noteworthy that Bitcoin has risen by 2.5% as Trump positions himself as pro-cryptocurrency. Meanwhile, Harris traveled to Michigan with a focus on economic issues, whereas Trump intensified his campaign in Georgia to secure the support of religious voters.