'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 streak that ended June 26

Shares of Trump Media & Technology Group Corp. continued their rally Tuesday, climbing 4% in premarket trading after ending Monday's session up 11.5%.

The stock (DJT) is rallying following an appearance by Tesla Inc. (TSLA) CEO 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 stock is on pace to extend its winning streak to four days, the longest since June 26, when it rose for four straight trading days, according to Dow Jones Market Data.

Musk, who is 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.

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

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.

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

Monday's gain was the stock's largest since Sept. 13, when it gained 11.8%. Shares of the operator of the social-media platform Truth Social are up 5.1% in 2024, compared with the S&P 500's SPX gain of 19.4%.

-James Rogers

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10-08-24 0934ET

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