Trump Media stock soars nearly 200% as momentum traders ride its coattails to chase major returns

Despite its recent rally, TMTG’s financial performance has been lackluster. In the first half of this year, the company reported losses of $344 million on revenues of $1.6 million. However, over the last few weeks the stock’s momentum could have attracted interest from momentum-based investors, eager to cash in on its growth.

Cordell Eminent Scholar Jay Ritter shares his insights in this story from Fortune.