Trump’s social media stock is making an epic comeback as election nears
CNN
Former President Donald Trump’s social media company is on fire on Wall Street. It’s all about Trump’s perceived chances of retaking the White House.
Former President Donald Trump’s social media company is on fire on Wall Street. It’s all about Trump’s perceived chances of retaking the White House. Up until very recently, Trump Media & Technology Group had been in meltdown mode. Its share price dropped to a record low of $12.15 on September 23, marking a stunning 82% crash from its high. But the owner of Truth Social is enjoying a massive rebound of about 120% in the three weeks since, more than doubling its share price. It spiked nearly 50% last week alone and is up another 5% on Monday. It’s a remarkable turnaround, even for a notoriously-volatile stock that has been described as a meme stock on steroids. Trump Media did not announce a sudden revenue stream or a flashy new product that could explain the move. It didn’t land an endorsement from Wall Street analysts or a major shareholder. Instead, the turnaround has been fueled by the perceived odds of Trump winning in November. Trump Media has long served as a way for traders to bet on the election.
It started with tariffs, but the trade war is quickly escalating beyond import taxes into a broader tit-for-tat battle.
Walmart is getting caught in the middle of an escalating trade war between the United States and China.
Intel has named a new chief executive, as the chipmaking giant attempts to recover from several bruising years that saw the one-time industry leader fall behind most of its rivals.
Two months ago, JPMorgan Chase CEO Jamie Dimon defended President Donald Trump’s tariff policy with a curt message: “Get over it.” But with stock markets lower and cracks appearing to form in the US economy, Dimon himself might not be over it.
The US Federal Trade Commission asked a federal court in Seattle on Wednesday to delay a September trial in its case alleging Amazon misled consumers over its Prime subscription service, citing “severe resource shortfalls in terms of both money and personnel.”
There may be some cracks forming in the egg market.
Ruth Marcus, who recently resigned as a Washington Post columnist after four decades, said she parted ways with the paper following a spiked opinion piece on the paper’s billionaire owner because her job is to tell readers “what I think, not what Jeff Bezos thinks I should think.”
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.
Inflation slowed in February for the first time in four months, but that progress may be short lived as President Donald Trump ramps up his trade war, which threatens to increase prices for Americans.
With his chaotic trade policy, President Donald Trump is digging himself into an economic and political hole so deep, it may prove impossible to climb out.
American consumers – and their wallets – are the engine of the economy. But they’re now showing the strain of inflation, President Donald Trump’s tariffs and a stock market plunge.
Elon Musk has secured a major win in India by signing two back-to-back deals to bring SpaceX’s Starlink satellite internet services to the country.
President Donald Trump imposed a sweeping 25% tariff on all steel and aluminum imported into the United States early Wednesday, a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.