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Elon Musk's social media platform X will merge with Donald Trump's Truth Social.
According to the New York Post on November 2, there have been speculations within Trump's camp that Elon Musk's social media platform X might acquire Truth Social, a social media platform launched by Trump Media and Technology Group (TMTG). However, both Musk and Trump have been busy these days and have not confirmed this news yet. As early as March this year, there were reports that Trump had asked Musk last summer if he was interested in acquiring TMTG. However, by September, Trump insisted in an interview that he would not sell his shares in TMTG, as the stock price was tied to both himself and the Democratic presidential candidate.
GameStop Might Have a Trump Card or GTA 6 Wildcard in the Mix
On the eve of the election, the "Trump trade indicator" collapsed.
Trump Media Technology Group stock price has recently plummeted by 36% over the past three trading days, with a market cap evaporating over 4 billion US dollars. This means that there has been a 180-degree major turnaround in market pricing - from betting on Trump to betting on Harris.
Rumor has it! Elon Musk will acquire the Trump Media Technology Group?
It has been reported that there have been speculations from the outside, believing that one of Trump's biggest supporters, billionaire Musk, may buy Trump Media Technology Group, the social media company, from the Republican presidential candidate.
Trump Media & Technology Options Spot-On: On November 1st, 567.64K Contracts Were Traded, With 1.54 Million Open Interest
On November 1st ET, $Trump Media & Technology(DJT.US)$ had active options trading, with a total trading volume of 567.64K options for the day, of which put options accounted for 51.88% of the total
Rally in Trump Media Shares May Have Been Fueled by Possible Sale to Elon Musk - New York Post