DJT is bracing for another uneventful week of trading ahead of Trump’s election, Harris

Trump Media & Technology Group stock ( DJT ) clawed back earlier losses to rise 2% in afternoon trading Monday as shares braced for another volatile week on Wall Street one day before the presidential election.

The stock fell by the largest percentage in the past week and closed almost 20% to end the five-day period on Friday.

And as of Tuesday, more than $4 billion has been set aside from the company’s stock market, although the stock has more than doubled from its low in September.

The oscillating of shares is likely to continue as the election approaches. One investor warned that if Trump loses the election on Tuesday, DJT shares could drop to $0.

“It’s a binary bet on options,” Matthew Tuttle, CEO of hedge fund Tuttle Capital Management, recently told Yahoo Finance’s Catalysts.

Tuttle, who currently has vested options on the stock, said the stock’s performance is based on a “buy the rumor, sell the truth” business strategy.

“I think the day after he wins, you’re going to see this go down,” he speculated. “If he loses, I think it goes to zero.”

Interactive Brokers’ chief strategist Steve Sosnick said DJT has come to a “life of its own”.

“It was very volatile going up, and when a stock doesn’t move in one direction, it tends to move in the other direction,” he said in a phone call with Yahoo Finance last week.

Before the latest sale, shares of the company, home of the Republican candidate’s social media platform Truth Social, had risen in recent weeks as betting markets at home and abroad fluctuated for Trump’s victory.

Prediction sites like Polymarket, PredictIt, and Kalshi have all projected Trump’s chances for the presidency ahead of Democratic nominee and Vice President Kamala Harris. However, that lead narrowed significantly over the weekend when new polls showed Harris ahead of Trump in Iowa, which has traditionally voted Republican.

And while the betting markets are improving, national polls show both candidates in a nearly deadlocked race. Elections in key battleground states such as Pennsylvania, Michigan and Wisconsin, which are likely to decide the outcome of the election, also show narrow margins.

In September, the stock traded at the company’s all-time low following the expiration of its highly publicized closing period. Shares were also under pressure when last September’s election saw Harris with a huge lead over the former president.

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