All states have already closed their voting centers. So far, Trump has secured 267 electoral college votes, while Harris has 224, according to the Associated Press. This leaves the former president just three votes away from a second term.
The stock had a volatile session during Tuesday’s market hours the day before, with trading halted due to volatility. Shares quickly erased 15% gains and reversed Monday’s double-digit gain to start the week.
Despite recovering from larger losses, shares closed down just over 1%. The latest price movement occurs as investors await the final election result between the Republican candidate and his rival. Trump has secured North Carolina, Georgia and Pennsylvania, three key states, according to the Associated Press (AP). Results in Arizona, Wisconsin, Nevada and Michigan are still uncertain.
DJT analysis
In September, shares of the company — owner of the Republican candidate’s social media platform, Truth Social — traded at their lowest level since their debut, following the expiration of the widely publicized lockup period.
Stocks had recovered from their lows, while domestic and foreign betting markets favored a Trump victory. Trump founded Truth Social after being banned from social networks such as Facebook (META) and Twitter, now after a break of about a year.
While Social Truth attempts to compete with established social media platforms, the company’s fundamentals have long been questioned.
On Tuesday, DJT reported third-quarter results after the market closed, showing a net loss of $19.25 million for the quarter, which ended Sept. 30, narrower than the $26.03 million reported in the same period of the previous year.
DJT also reported revenue of $1.01 million, a slight year-over-year decline compared to $1.07 million in the third quarter of 2023. In the past nine months through September 30, revenue has fallen 23% from to the same period of the previous year. Last month, the company revealed that its chief operating officer resigned in September.
Trump maintains about a 60% interest in DJT, making his stake worth billions.
Source: Ambito
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