The surge in Trump Media shares following the rally in New York City reached a high of 20%.

• On the day after Donald Trump's campaign rally in New York City, the shares of his social media company experienced a 20% increase.
• In mid-summer, the DJT stock reached a new high, coinciding with the aftermath of Trump's near-assassination at a rally in Pennsylvania.
• The recent rise in Trump Media's gains has been accompanied by a shift in the Republican's favor on betting sites like Polymarket and Kalshi, despite polls indicating a tight race.

On Monday morning, the stock price of Donald Trump's social media company increased by up to 20%, following the Republican presidential candidate's rally in New York City on Sunday.

The stock price surpassed $46.80 per share during the first hour of trading, surpassing its previous high in mid-July, when the company's market value increased after Trump was nearly assassinated at a rally in Pennsylvania.

The major sell-off that hit bottom in late September saw DJT stock scrape below $12 a share after the surge.

The election between Trump and Vice President Kamala Harris, the Democratic nominee, entered its final weeks, and the Truth Social operator has recovered all of those losses in October.

At that moment, Trump Media launched a separate streaming service called Truth+ and announced the departure of its chief operating officer.

Frequently, analysts have suggested that the multibillion-dollar market value and volatile stock movements of Trump Media are not related to company news or the performance of Truth Social, which generates little revenue and has a small audience.

Instead of viewing the stock as a means to support the company, it has become an outlet for pro-Trump retail investors to back the former president and bet on his chances of returning to the White House.

The surge in stock prices on Monday may indicate that traders are experiencing a surge of optimism following Trump's rally in Manhattan's Madison Square Garden, which attracted thousands of his supporters to a predominantly blue city.

Yesterday, our president @realDonaldTrump packed MSG for a historic rally, and today the market is soaring! $DJT.

The recent rise in Trump Media's gains has been accompanied by a shift in the Republican's favor on betting sites like Polymarket and Kalshi, despite polls indicating a close race.

Political polls and odds and gambling platforms employ different methodologies, so they cannot be used interchangeably.

Critics have raised concerns that the election betting markets are being manipulated.

Last week, Polymarket confirmed that a French national created a large pro-Trump position on its presidential election bet through four different accounts.

This is developing news. Please check back for updates.