'Stunning rise': Trump Media's stock value shoots up after weeks of crashing

After weeks of plunging in value, former President Donald Trump's media company stock appears to be on the upswing Monday.

According to CNBC, "The share price of Trump Media soared by more than 12% in afternoon trading Monday, continuing a stunning rise that began in mid-April. The DJT ticker was up more than $5 per share just before 1 p.m. ET."

The company in question, which went public following a merger with a special purpose acquisition company, manages the former president's Truth Social platform, where he makes most of his announcements to the public.

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The stock is now sitting at $46 a share — a large gain from the mid-April low of just under $23, but still far from the high point immediately after being introduced of $66 a share.

The high price of the stock comes "without any significant news about the company’s bottom line improving," the report noted. Furthermore, the company lost $58 million last year. Observers have speculated that the value is overinflated, and at least some investors have admitted to shorting the stock.

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"Earlier Monday, Trump Media issued a press release that essentially underscored previously released information to shareholders advising them how to avoid having their stock shares loaned out for use by short sellers to bet the price drops," the report continued.

Taking Trump Media public reportedly created billions of dollars in value for Trump, who owns a large portion of the shares. However, much of that value has dried up as the price plummeted, only recovering partially with the rebound.

Moreover, legal experts have warned that Trump won't be able to use the value of the stock to dig his way out of his financial and legal problems, including hundreds of millions of dollars in civil judgments and mounting legal fees from his criminal trials.

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