What's Going On With Trump Media & Technology Stock On Monday?

Trump Media & Technology Group Corp DJT stock soared on Monday.

The move comes after the Supreme Court rejected an appeal from X, Elon Musk’s social media company. This avoided a dispute over a secret Justice Department search warrant for records tied to Donald Trump’s social media account, NBC News reports.

Trump has a majority ownership in the Truth Social parent, which prices every move of the current Republican Presidential candidate.

The court opted not to rule on whether prosecutors could obtain data from Trump’s Twitter account without notifying him.

Also Read: Trump Media Surges Amid Tough Election Competition and Criticism of Biden’s Foreign Policy

This case stemmed from special counsel Jack Smith’s investigation into Trump’s alleged election interference in 2020.

Earlier this year, the Supreme Court ruled that presidents have broad immunity from prosecution for official acts, leaving the lower court’s decision in favor of prosecutors intact.

Trump Media stock saw gains despite the sale of its co-founders’ stakes and the departure of the COO, as Trump expressed his conviction in the company by retaining his stake.

Andrew Northwa resigned as COO of Trump Media effective September 28, 2024. The company shared plans to transition his duties internally.

Meanwhile, Trump continues to attack the Biden administration as the Presidential election date nears.

Price Action: DJT stock is up 15.10% at $18.99 at the last check on Monday.

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