Renowned economist Peter Schiff has made a bold prediction about the potential rise of Trump Media & Technology Group DJT stock and its impact on former President Donald Trump‘s net worth.
What Happened: Schiff, in a post on X, formerly Twitter, on Wednesday, wrote, “If MAGA investors push $DJT to $2k per share, Trump will be the 7th richest person in the world, just ahead of Bill Gates. DJT should add some Bitcoin to its balance sheet and rename the company Trump AI and Crypto Technology Group. Then cap the shares to limit supply and HODL.”
Why It Matters: DJT made its public debut this week following a SPAC merger approval by shareholders. The stock experienced a surge, raising questions about its valuation and the possibility of it being treated as a meme stock. The stock jumped 16% on its first day of trading and ended the session with a market value of $6.58 billion.
Financial commentator Herb Greenberg expressed skepticism about DJT’s valuation, suggesting that without Trump’s name, it would be considered a penny stock. Schiff’s tweet seems to reflect a different perspective, indicating the potential for significant growth if certain strategies are implemented.
Price Action: On Wednesday, Trump Media & Technology stock closed 14.19% up at $66.22, according to data from Benzinga Pro.
Image via Shutterstock
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