Trump Media has been volatile since it began trading in March, initially surging to a valuation that topped $9 billion despite a history of losses, before falling to a low of $11.75 a share in September. Much of the stock's movement is tied to Trump's political fortunes, with DJT swinging upwards when his odds appear to improve.

Republican presidential nominee Donald Trump owns nearly 57% of the company, which trades as DJT on the Nasdaq.