Trump has a high chance of returning to the White House! Its social media valuation exceeds that of its biggest competitor X
安全到达彼岸依
发表于 5 Dayago
1196
0
0
Thanks to the recent surge in stock prices of Trump Media Technology Group (TMTG), the latest valuation of Truth Social, a social media platform created by former US President and Republican presidential candidate Trump, has surpassed its biggest competitor, X platform owned by the world's richest man Elon Musk.
As of Tuesday, the stock price of Trump Media Technology Group, the parent company of Truth Social, has surged 333% since its low at the end of September, with a valuation of $10.6 billion.
And Fidelity Investment's latest valuation of X is only $9.4 billion. Fidelity regularly updates its valuation expectations for the social media platform as it holds shares in X.
Since Musk's acquisition of X for a high price of $44 billion in October 2022, the platform's valuation has decreased by 79%.
Trump Media's valuation of $10.6 billion also makes it more valuable than The New York Times, which is valued at around $9.2 billion.
The soaring valuation of Trump Media Technology Group is not based on fundamentals, but on the likelihood of Trump winning the presidential election.
On the eve of the US presidential election, the "Trump deal" has heated up sharply as investors believe there is a high chance of Trump returning to the White House. The odds in the gambling market show that Trump has a much higher chance of winning the election than Harris.
After Trump held an important campaign rally at Madison Square Garden in New York last weekend, the stock price of Trump Media Technology Group began a meme like rebound. On Tuesday, the stock was suspended multiple times due to severe fluctuations.
According to the 10-Q filing submitted by Trump Media Technology Group to the US Securities and Exchange Commission, the company's revenue for the first half of 2024 was only $1.6 million, with a loss of up to $344 million.
Trump himself is also the big winner of the "Trump deal" heating up. According to Bloomberg data, his net worth has almost doubled in the past few months, reaching over $8 billion, mainly driven by the rise in the stock price of Trump Media Technology Group.
As of Tuesday, Trump holds nearly 115 million shares of Trump Media Technology Group, worth approximately $6.2 billion.
Logomoney.com is an information publishing platform that only provides information storage space services.
Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
You may like
- US CPI slows down unexpectedly in June, probability of September interest rate cut rises to nearly 90%
- Trump's chances of winning the state election after being attacked have risen to 71%, according to statements from top figures such as Musk! Expert interpretation
- Trump's plan to return to the White House exposed!
- Sudden diving! The Dow Jones Industrial Average fell nearly 400 points, and the probability of the Federal Reserve cutting interest rates in September has increased significantly
- The probability of the Federal Reserve cutting interest rates in September remains 100%, as the US GDP in the second quarter exceeds expectations
- The annualized quarter on quarter GDP growth of the United States in the second quarter is 2.8%, and next week's interest rate cut is likely to fail
- How will the Federal Reserve signal a rate cut next morning if it is highly likely to remain inactive?
- Trigger the 'Sam Rule'! Trader: 100% probability of interest rate cut
- Dan Bin: 'Most likely to hit bottom this week'. The Nasdaq bull market should be a historical cycle of more than ten years
- Bilibili responds to 'suspected employee manipulation of lottery probability in live broadcast room': will investigate abnormal winning situations
-
On Friday (November 1st) local time, the team of Pixelmator, a photo editing tool developer, announced on their official website that they plan to join the American tech giant Apple. The title of the ...
- lofogt
- day before yesterday 11:47
- Up
- Down
- Reply
- Favorite
-
[The US blockbuster data was released! The Nasdaq stock index fell more than 512 points, and the technology "seven sisters" fell across the board. Apple fell more than 1.8%. Nvidia's market value eva ...
- gaozhaoying
- 3 Dayago
- Up
- Down
- Reply
- Favorite
-
On Thursday Eastern Time, the three major US stock indices collectively closed down. As of the close, the Dow Jones Industrial Average fell 0.90%, the Nasdaq fell 2.76%, and the S&P 500 index fell 1. ...
- chehai13
- 3 Dayago
- Up
- Down
- Reply
- Favorite
-
Shanghai, November 3 (Xinhua) - Boston Scientific, a US funded medical device company, recently announced two news in Shanghai. Firstly, its first production and manufacturing base in China has been ...
- gb200
- Yesterday 11:10
- Up
- Down
- Reply
- Favorite