Can Trump Media stock hit $50 this week?

Core Viewpoint - Trump Media & Technology Group (NASDAQ: DJT) has experienced significant stock volatility in 2024, with rapid price increases followed by equally swift declines, largely influenced by public sentiment regarding Donald Trump and his presidential campaign [1][2]. Stock Performance - DJT stock saw a notable rally of 9.60% on January 13, reaching $39.29, despite a generally negative market environment [2]. - As of the latest update, DJT stock price rose to$41.80, marking a weekly gain of 22.40% [3]. - The stock previously peaked at $51.51 in late October, raising questions about the potential for another rally to surpass the$50 mark [4]. Market Sentiment and Trading Dynamics - The recent surge in DJT stock is attributed to news coverage surrounding Trump's upcoming inauguration, leading traders to speculate on further price increases [4]. - To reach $50 per share, DJT stock would need to increase by 19.61$39.25, which may prompt traders to take profits from long positions [7].