Trump Media Stock Soars Past Elon Musk's X

The Trump Media & Technology Group, owner of Truth Social, has seen its market value surge to over $10 billion, surpassing Elon Musk's social media network, X, which is valued at $9.4 billion. The increase in Trump Media's stock price is closely connected to Donald Trump's rising re-election odds, with shares rising over 300% in the past month. Despite operating at a financial loss, Trump Media's valuation has overtaken several large companies, including Match Group and Hasbro. Trading of Trump Media shares has been marked by volatility, with frequent halts due to significant price fluctuations. The company's stock prices are heavily influenced by election betting markets, reflecting investor speculation on Trump's political fortunes.