'DJT' stock continues rally after Elon Musk joins Trump onstage in Pennsylvania

By James Rogers

Shares of Trump Media & Technology Group are on pace to extend their winning streak to four days - their longest since a four-day run in June

Shares of Trump Media & Technology Group Corp. continued their rally Tuesday, gaining 18% in afternoon trading after ending Monday's session up 11.5%.

The stock (DJT) has been rallying following an appearance by Tesla Inc. (TSLA) Chief Executive Elon Musk alongside former President Donald Trump at a campaign rally in Butler, Pa., on Saturday.

Related: 'DJT' stock soars after Elon Musk joins Trump at Butler rally

The Butler rally marked Trump's return to the site of a failed assassination attempt in July. Musk endorsed Trump shortly after the assassination attempt on July 13.

DJT shares are set to register their biggest daily gain since July 15, the first trading session after the assassination attempt, when they rose 31.4%.

The stock is also on pace to extend its winning streak to four days, its longest such run since June 26, when it also rose for four straight trading days, according to Dow Jones Market Data.

Related: Elon Musk, Bill Ackman say they are endorsing Trump for president

Musk, who is also the CEO of SpaceX and owns the social-media platform X, formerly Twitter, is arguably Trump's highest-profile supporter. Musk regularly uses X to express his support for the former president.

Trump owns a 57% stake in Trump Media & Technology Group, which went public through a merger with special-purpose acquisition company Digital World Acquisition Corp. on March 26.

Related: From Trump's 'DJT' social-media stock to crypto plays, here's what rose after assassination attempt on former president

Shares of the operator of the social-media platform Truth Social are up 24.7% in 2024, compared with the S&P 500's SPX gain of 20.2%.

-James Rogers

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10-08-24 1403ET

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