After a turbulent trading session on Tuesday, Trump Media & Technology Group Corp DJT experienced an uptick in its stock price during pre-market trading on Wednesday. At the time of writing, DJT saw a 2.85% increase after experiencing a significant drop of nearly 10% on Tuesday’s closing price, as per Benzinga Pro.
Meanwhile, mobile-advertising software company Phunware Inc. PHUN was up by 11% at the same time. The company, which was instrumental in developing and managing the mobile application for Trump's 2020 re-election campaign, saw its stock skyrocket over 38% on Tuesday and closing 14.68% higher on the same day.
The stocks encountered a volatile trading session on Tuesday, resulting in a temporary halt due to sudden price fluctuations. This decline coincided with an interview with Former President Donald Trump, who holds the majority share of the stock, at the Economic Club of Chicago. During this interview, conducted by Bloomberg Editor-in-Chief John Micklethwait, Trump discussed various topics, including tariffs and the Federal Reserve, which could be influential in the 2024 presidential election.
The drop and subsequent halt in Trump Media’s stock may have been influenced by the former president’s remarks during the interview. Meanwhile, the company has recently launched its Truth+ streaming service online, offering a variety of content, from entertainment and news to faith-based programming and documentaries. The service is also accessible through an Android app, broadening its reach to users beyond the web.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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