Trump Media Stock Soars 14% in 2 Days, Reaching $8B Valuation Despite Company Losses

Trump Media & Technology Group (DJT) stock surged over 14% on its second day of trading after going public via a SPAC merger
The company, which operates the Truth Social platform, reported losing $49 million in the first 9 months of 2022 but brought in $3.4 million in revenue
DJT currently has a market valuation around $8 billion, with Trump retaining a 60% stake worth about $4 billion
Meme stocks like Reddit and GameStop also saw big run-ups recently, though some have pulled back
Trump faces a $454 million fraud penalty but can't sell his DJT shares for 6 months due to a lockup period