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March 31, 2024

Trump Social Media Company Defies Stock Market Expectations

President Joe Biden is likely STUNNED over the latest win from former President Donald Trump!

The company that founded the former president’s platform Truth Social, Trump Media & Technology Group, recently became available on the stock market.

The company’s performance has blown experts away.

After just one week, Trump’s company closed at over $60 per share!

Thomas Hayes of Great Hill Capital has released a recent statement on how Americans have responded to Trump Media’s market debut.

“This is a proxy on support for Donald Trump and nothing more, period,” Hayes said.

“I’ve never seen anything like it,” he continued.

Hayes did not stop there.

“If you’re 30 or 40 or 50 percent of the country that wants to support Donald Trump, there’s no more effective way to do that than to buy shares in this company and hold those shares until the election period,” Hayes also said.

Steve Sosnick, the Interactive Brokers chief strategist has commented on the type of investors that are most likely investing in Trump’s stock.

“You need a large group to have a belief in the company that goes beyond just normal investment criteria. They’re no longer really investment decisions in the way that you think about the price-earnings ratio, discounted cash flow. All the things that people use to value a company become somewhat irrelevant. Because it’s about faith. It’s about being part of something bigger,” Sosnick said.

Sosnick is right.

It is about being part of something bigger.

Countless Americans believe Trump will take back the White House in 2024.

Whether they support the former president or not, they know he will succeed!

Could that be why so many are buying into his newly public company?

Let us know your thoughts in the comments below.

To read more about this story, please feel free to click on the original source here.

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