The stock price of Trump Media surges by more than 7% following a poll that suggests positive news for the former president.

• The stock of Trump Media, which is mostly owned by Republican presidential candidate Donald Trump, experienced a more than 7% increase in value on Monday, providing a brief reprieve from its two-month losing streak.
• On Sunday, a national poll revealed that Trump and Harris were tied in the presidential race.
• The stock's rise may be linked to the poll, which is commonly viewed as an indicator of Trump's chances of winning the election.

On Monday, the stock's shares climbed more than 7%, ending a two-month losing streak. This came before the date when its majority shareholder, former President Donald Trump, can begin selling his shares.

Prior to 1 p.m. ET, Trump Media shares were valued at $18.39, representing a 7.59% increase from their opening price on Monday morning.

Since its most recent high in mid-July, the stock had dropped nearly 45% before Monday's surge, following the attempted assassination of Trump at a campaign rally in Pennsylvania.

The stock price of Trump Media, trading under the symbol "DJT," has dropped almost 70% from its peak in March following its merger with a special purpose acquisition company.

Shares on Wednesday closed below where they traded at the end of 2023.

On Monday, the share price of Truth Social, a social media platform owned by Trump Media, increased without any discernible reason.

The stock market's recent rise may be linked to the neck-and-neck race between Trump and Harris in the presidential election, as the stock often serves as a proxy for Trump's election odds.

According to the poll, Trump and Harris were tied, with a one-percentage-point difference, within the survey's margin of error.

On Monday, the Republican nominee used Truth Social to promote the platform.

"Truth Social is excellent. The authentic voice of America!" Trump declared on the platform around 10 a.m. ET.

Nearly 59% of Trump Media's outstanding shares are owned by Trump, but the value of his holdings has decreased significantly in recent months.

On Monday at 12:45, the company's market capitalization was slightly over $3.6 billion. At its highest, Trump Media was valued at approximately $8 billion.

Company executives, including the former president, may sell their stake in the company later this month.

This is a developing story, please check back for updates.