Shares of Trump Media, the operator of Truth Social, surged nearly 19% on Tuesday, marking its fourth straight day of gains. The stock price reached $21.80 per share, still below its peak in March. The rally began after Donald Trump held a campaign rally in Pennsylvania, where he was nearly assassinated in July. The event also saw Elon Musk endorsing Trump’s candidacy. Despite positive news, such as Musk’s endorsement, there are concerns about the company’s well-being. The chief operating officer and chief product officer have resigned, and there have been reports of multiple lower-level employees leaving the company. The company also had to hand over nearly 800,000 shares to an early investor following a breach of a stock agreement. Trump, who owns nearly 57% of Trump Media, has vowed not to sell his shares. The company has posted large losses with minimal revenue, but still maintains a market capitalization of over $4 billion. Some analysts see Trump Media as a way for retail investors to support Trump or bet on his chances in the upcoming election against Kamala Harris. Despite the uncertainty surrounding the company, its stock has been on the rise, reflecting investor interest and optimism.
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