DJT Shares Have A Crazy Two Weeks – Chart Resembling An EKG

In a strong show of resilience, Trump Media & Technology Group's (NASDAQ: DJT) stock, trading under the ticker symbol DJT, bounced off the April 16 lows to more than double in two weeks.

This robust performance marked the first time in nearly a month that the shares have ascended to such heights. The company, which is responsible for the creation of the social app Truth Social, has been riding a wave of success, witnessing a substantial rally of over 8% during early trading sessions. However, the advance slightly decelerated later in the morning settling on 45.13 USD at the end of the day. In the last 5 days the stock has risen by 21.74%.

This upsurge comes amidst a significant recovery over the past week, with Trump Media's stock prices inflating by more than half. Despite this impressive comeback, the current figures still trail behind the stock's initial highs of $70 per share observed during its public debut on the stock market on March 26.

Further bolstering this financial saga is the notable receipt of an additional 36 million shares pocketed by none other than the former President Donald Trump. This cache of shares, part of an earnout agreement, was granted following the consistent performance of the stock price above the $17.50 benchmark for a span of 20 trading days since the company's public inception. Trump's rapidly expanding portfolio in Trump Media now constitutes a commanding 65% ownership stake, which at the $50 share price is estimated to value $5.7 billion, adding to his previously held 78 million shares.

Notwithstanding the stock's current success, Mr. Trump is bound by a lock-up period that prohibits him from selling any of his shares for a duration of six months subsequent to the merger between Trump Media and Digital World Acquisition Corp.

In the midst of these developments, Trump Media's CEO, Devin Nunes, has shed light on concerns pertaining to alleged market manipulation facilitated by short sellers. Nunes has actively encouraged shareholders to safeguard their holdings and thwart potential siphoning of their stocks for short selling activities.

With Trump Media's share price reinvigorated and the company's majority shareholder significantly rewarded, eyes are fixed on how the market will react in the coming weeks and whether the upward trend for DJT stock will persist.