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The probability of Trump reclaiming the presidency is on the rise, driving the valuation of his self-created social media platform to exceed X
Jinshi data news on October 30th, thanks to the recent pump in the stock price of the Trump Media Technology Group (DJT.O), the value of Trump's social media platform Truth Social has now exceeded that of Musk's X. Since late September, the stock price of the Trump Media Technology Group has pumped more than four times, and its market capitalization has exceeded $10 billion. According to Fidelity's latest valuation of its holdings in X Holdings, X Holdings is valued at about $9.4 billion. The stock price of the Trump Media Technology Group tends to change with the likelihood of Trump's re-election rather than its own profit prospects, and investors believe that the chances of Trump reclaiming the presidency have recently increased. On Tuesday, the stock price pumped more than 12% at one point, and it pumped 21.6% on Monday.