“The long answer, however, is that while Trump Media’s valuation is entirely illogical from a financial perspective — as one finance professor told CNN, “The stock is pretty much divorced from fundamentals” — its early success in trading can be boiled down to one simple fact: Donald Trump is running for president, and there’s a decent chance that he’ll be back in the White House this time next year.
Truth Social, in other words, is a way for Trump’s supporters to personally offer him financial support at a time when he desperately needs it. That might be why the company’s volatility looks similar to meme stocks for now. As one analyst told my colleague Nicole Narea, people might buy up Trump Media stock so “they can express their beliefs and commitment.”
For those with deep pockets, it’s also an opportunity to curry favor with the former president.”
https://www.vox.com/24120166/truth-social-stocks-trump-media-corruption