The latest survey shows that Former President Donald Trump ahead of Vice President Kamala Harris This is good news for the stock price of his media company.
Shares of Trump Media and Technology Group, The parent company of Trump's social media platform Truth SocialStocks on Wall Street rose more than 7% during Monday's trading session, although they later fell slightly.
Just before 1 p.m. Eastern time, Trump Media's stock price was up 7.6% to trade at $18.39.
However, the company's shares were up 5.61% as of 2:35 p.m. Eastern time.
Investors were buying more shares of the company. New York Times/Siena College Poll The poll released Sunday found Trump leading Harris 48% to 47% — an improvement over previous surveys, which showed the vice president ahead of the Republican.
Trump got more good news on Monday, when Nate Silver, a data journalist and founder of the Five Thirty Eight forecasting site, said, published his own model Which shows the former president leading Harris in every single crucial swing state — ensuring a landslide Electoral College victory of 312 compared to just 226 for the vice president.
Trump becoming a second president would be a boon for Truth Social, which would effectively become the platform it uses to issue statements and deliver news.
Despite recent positive progress, Trump Media shares fell 70% This is the highest since the company debuted on the Nasdaq index in March. As of Monday, the company's market capitalization was $3.63 billion.
Given that Trump's stake represents roughly 59% of Trump Media's outstanding shares, his stake in the company is worth about $2.18 billion — or $4 billion less than it was worth earlier this year.
A lockup provision expires on Sept. 19 that prevented Trump, who owns 115 million shares of the company, from selling any of his outstanding shares.
This means that Trump can sell his shares on the open market and walk away with a tidy ten-digit sum.
But doing so would crash the company's stock price and wipe out whatever value is left for its more than 600,000 shareholders.
Trump has not yet indicated what he intends to do. The Post has sought comment from Trump Media.
Last month, Trump Media reported it had lost more than $16 million in the most recent quarter, with revenue also declining.
Half of the loss was caused by legal costs related to a merger with a company called Digital World Acquisition Corp., which was essentially a pile of cash looking for targets to merge with.
Trump Media reported a loss of more than $300 million in the first quarter.
