Trump Media & Technology Group's stock rose over 4% ahead of the pivotal debate between Trump and Harris, boosting the media founder's stake to $2.2 billion.
"It's definitely a proxy for excitement ahead of the debate and hopes that Trump is going to do well tonight," said Dennis Dick, a trader at Triple D Trading in Ontario.
Despite the rally, strategists argue that Trump Media's stock value, now at $3.8 billion, is unrelated to its actual business fundamentals.
The bounce in shares follows weeks of declines, underscoring a volatile market influenced by upcoming election debates and polls showing a close race.
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