(VOR News) – On Thursday morning, the shares of Trump Media resumed their upward trend, reaching a high of 19% for the fourth consecutive day.

This continued the momentum of a resurgence that has succeeded in recouping a fraction of the huge losses that the Truth Social operator experienced during a recent sell-off that lasted for several weeks. There has been a significant length of time that has passed since this growth began.

A little over two weeks ago, DJT stock had reached an intraday trading low of $11.75; but, immediately after the market opened, it was selling at more than $24 per share, which is more than double the price that it had reached at that point.

Since then, the stock of Trump Media DJT has increased by more than twice.

It was notable because it corresponded with a number of recent polls on the presidential election as well as other indicators that fans of former President Donald Trump, who is the largest stakeholder in the company, perceived to be encouraging signs.

This was the reason why it was significant. An increase was seen in spite of the fact that there was very little positive news around the company. Despite this, the growth was recorded.

Trump Media has been referred to as a meme stock by a number of industry professionals. This stock is being bought and sold by supporters of Donald Trump in a substantial chunk of the present market.

These supporters believe that investing in the firm is a way to show their support for the Republican presidential candidate at the same time that they are placing a wager on the possibility that he will win the presidency.

When asked about it in an interview with CNBC, Anne Stevenson-Yang, the founder and research director of short seller J Capital Research, stated that “it does not have anything to do with fundamentals.” This was in response to a question regarding the matter. This was the conclusion that she reached in response to the inquiry.

A single syllable was all that she said when she made her declaration, and it was, “It’s a bet on Trump.”

During the most recent rise, which occurred during an extraordinarily busy trading session, the volume of Trump Media shares had already surpassed the 30-day average volume, which was approximately 15.1 million shares, as reported by FactSet.

This took place a little over an hour after the market had started business.

Trump Media rose during a busy trading session.

There were already more than 27 million shares of Trump Media that were being traded at the time that the clock struck 11:30 a.m. Eastern Time. This signifies that the market is already active.

As a result of the developments, Trump Media is on track to have its fifth strong day in a straight, and it is also on track to have its best week since late March, when the company had just begun publicly trading after completing a corporate combination with a blank-check firm. Both of these developments are expected to occur.

Both of these achievements are anticipated to take place as a consequence of the advances that have taken place.

More than eighty percent of Trump Media’s value had been erased from its post-merger highs prior to the most recent rise, which represented the completion of a slide that had been underway for some months already. This slide had been occurring for several months. The decrease has been going on for some time.

When the company was initially listed on Nasdaq, the share price reached an intraday high of $79.38 per share immediately after the listing. The price of the corporation, on the other hand, has remained far lower than that high level. This was the situation beginning on Thursday and ongoing.

SOURCE: CNBC