DJT stock price: Wild swings for Trump Media as Inauguration Day nears

With President-elect Donald Trump set to be sworn next week, shares in Trump Media & Technology Group Corp. (Nasdaq: DJT), which owns his Truth Social social media network, started trading this week with a bang. However, this morning DJT shares are sinking once again. Here’s what you need to know.

DJT surged over 21%, then dropped

Yesterday, DJT stock surged 21.5% to close out the day at $42.91 per share. As CNBC notes, that marked Trump Media’s best trading day since late October, when DJT shares surged 21.6% after Trump’s controversial Madison Square Garden campaign rally. It also marked a high for the stock since late October.

But as of the time of this writing, DJT shares are currently trading down over 7% to $39.78 per share, giving up a good chunk of yesterday’s gains.

At its $39.78 share price as of the time of this writing, Trump Media has a market capitalization of around $8.9 billion.

Why did DJT surge and then drop?

Why DJT shares saw their price surge yesterday is probably the hardest question to answer. The company did not report any new fundamentals or update any of its prior guidance. The last time Trump Media reported financials was for its Q3 2024, which ended on September 30. It’s due to report its Q4 2024 numbers several weeks after Trump is sworn in.

DJT is sometimes described as a “belief stock,” that is, the popularity of the persona behind the company—in this case, President-elect Donald Trump—is seen as one of the primary drivers of the stock’s rise and fall.

If you ascribe to this belief stock theory, it seems logical that DJT shares may rise or fall with little or no obvious reason in the run-up to Trump’s second inauguration.

As for why DJT shares are falling today after they surged yesterday, one of the most likely reasons for the fall may be down to simply profit-taking: People who bought in yesterday—or recently—want to sell so they can collect some profits.

DJT shares could be in for a wild ride the rest of the week

No one can ever predict what a stock is going to do, but given that Trump will be sworn in for a second time on Monday, January 20, it’s possible DJT shares could be in for some volatility this next week.

Does that mean they’ll go up? Or down? That’s anyone’s guess.

Trump Media went public in March 2024 via a merger with a special purpose acquisition company, or SPAC. The stock soon hit a high of over $71 per share. Since then, DJT shares have fluctuated widely, dropping to nearly $12 in September before surging to above $54 in October.

For 2025, DJT shares are currently up nearly 21%.