Trump Media Stock Rises 37% on Donald Trump's Election Victory

Shares of Trump Media and Technology Group rose 37% in premarket trading on Wednesday after Republican candidate — and company co-founder — Donald Trump won a second presidency.

Shares of Trump Media, the company that owns Trump's social media site Truth Social, were expected to open at $46.69 apiece Closing price: 1.16% Tuesday at $33.94 each before the voting results were announced.

The Associated Press called the race for Trump just after 5:30 a.m. Wednesday after declaring him the winner of Wisconsin, the latest in a series of swing states he made Tuesday night into Wednesday morning. Trump had been declared the winner of the critical battleground state of Pennsylvania. a few hours earlier.

In the weeks leading up to Election Day, DJT stock experienced all sorts of volatility: It fell by double digits last week as polls showed Democratic nominee Kamala Harris gaining ground in a number of battleground states, and then pared those losses earlier this week again compensate for another attack of “Euphoria before the election.”

The stock had become something of an indicator of Trump's election chances and a way for fans and supporters to buy into the now elected president.

Futures markets have also risen due to the news of Trump's victory. Dow futures rose more than 1,315 points, S&P 500 futures rose 2.15% and Nasdaq futures climbed 1.53%.

Bitcoin reached a new all-time high Tuesday night, when it looked like the election was headed toward Trump. The popular cryptocurrency rose 7% on Wednesday morning to trade at $74,400.

Tesla shares (TSLA+3.46%)the electric vehicle company led by Elon Musk, a vocal Trump supporter who has accompanied him on the campaign trail in recent weeks, increased by 13%.

A second Trump presidency is expected to continue to benefit oil and gas stocks Cryptocurrency, defenseand bank stocks, although his tariffs could wipe out some of the benefits his administration brings. Private prison operators would also benefit from his proposed deportation program.

—William Gavin contributed to this article.