Shares of Trump Media & Technology Group surged 17% on Wednesday, extending gains from their stellar Nasdaq debut to the second day, fueled by retail investors including supporters of former President Donald Trump.
“There is likely to be significant volatility ahead as a share buying frenzy among his supporters may wane, and investors dig deeper into the fundamentals,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown. In comparison, X had 238 million daily active users as of June 2022, per latest available official data.
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