Trump Media shares jump, suggesting extension to Monday rally
) jumped by more than 9% in premarket U.S. trading on Tuesday, pointing to an extension in a sharp rally in the previous session.
Trump Media shares have fallen by about 50% since a jury in New York found Trump guilty last month of falsifying business records to cover up a payment to a porn actress prior to the 2016 election, making him the first ex-president to be convicted of a crime. Steep swings have been a characteristic of Trump Media shares since their public debut through a merger with a special purpose acquisition vehicle earlier this year. Following the flotation, the stock surged to a high of $79.38, but retreated shortly thereafter. Sentiment around the stock was also hit when Trump Media posted a net loss of $327.6 million in May.
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