Shares of Trump media company hit highest in six weeks

The stock prices of former U.S. President and presidential candidate Donald Trump's media company, Trump Media & Technology Group (TMTG), have reached the highest level in six weeks.

This is according to Ukrinform, citing Reuters.

As of October 10, shares of the TMTG, 57% of which is owned by Trump, has risen about 45% this week, with each share now valued at USD 23.85.

Investopedia notes that the stock has rebounded from lows below USD 12 per share reached last month. This increase is likely partially due to the company’s announcement that its new streaming app is now available on Google Play Store.

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Previously, the TMTG, which owns Trump’s social media platform Truth Social, reportedly incurred a loss exceeding $300 million in Q1 of 2024.