Why Trump Media & Technology Group (DJT) Led the Monday Upsurge?

We recently published a list of 10 Firms Dominate Monday Upsurge. In this article, we are going to take a look at where Trump Media & Technology Group Corp. (NASDAQ:DJT) stands against other firms that dominated Monday upsurge.

Ten companies—predominantly in the healthcare sector—kicked off Monday’s trading with notable gains amid a series of business updates, earnings, and acquisition deals that have fueled investor confidence.

Their gains outperformed mixed trading on Wall Street, with the Dow Jones and S&P’s main index the only gainers, up 0.86 percent and 0.16 percent, respectively. Meanwhile, the Nasdaq Composite dropped by 0.38 percent.

In this article, we will take a look at what buoyed the companies’ share prices.

To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

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Trump Media & Technology Group Corp. (NASDAQ:DJT)

Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) spiked by 21.52 percent on Monday to finish at $42.91 each, two weeks ahead of incoming president Donald Trump’s return to office.

Monday’s trading marked the company’s largest single-day jump since Trump won the presidential election.

Trump Media (NASDAQ:DJT), which is owned by the president-elect, is an American media and technology company headquartered in Florida. It runs the Truth Social social media platform.

Trump Media (NASDAQ:DJT) has remained in a precarious financial position over the past couple of years. The company reported yet another quarterly loss in its third-quarter earnings last November. In the three months ended Sept. 30, Trump Media lost $19.2 million, with revenue falling 5.6% to just $1.01 million from a year earlier.

Overall, DJT ranks 2nd on our list of firms that dominate Monday upsurge. While we acknowledge the potential of DJT, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than DJT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.