The New Trump Stock!

Hey traders, it’s Bryce here.

By now, hopefully you’re familiar with the two Trump stocks that showed us volatility as we approached the election:

• Trump Media & Technology Group Corp. (NASDAQ: DJT)
• Phunware Inc. (NASDAQ: PHUN)

Both of these stocks are showing us volatility in the wake of the election too. Keep them on your watchlist this week!

But there’s a third Trump-related stock that started to spike on Wednesday, October 6 when the U.S. learned of Trump’s victory of Kamala Harris.

Here’s a post from Jack Kellogg on Wednesday morning. Jack is one of Matt’s and my trading buddies. We all learned how to trade from Tim Sykes:

Good morning! 🇺🇸 pic.twitter.com/27cRGYCmKm

— Jack Kellogg (@Jackaroo_Trades) November 6, 2024

No matter how you feel about the election results … Don’t miss the profit opportunities this week that are a result of the election volatility.

• DJT is still showing us volatility.
• PHUN is still showing us volatility.
• And a third Trump-related play just started to spike … 

Keep an eye on these three stocks this week!

Wednesday’s Trump Spike

When Trump won the Presidential race on Tuesday night … The next morning, Wednesday, November 6, the overall market gapped up to new all-time highs.

Take a look at the S&P 500 ETF Trust (NYSE: SPY) chart below. Every candle represents one trading day:

SPY chart multi-month, 1-day candles Source: StocksToTrade

We saw this bullish momentum among Trump related stocks in the market as well.

• DJT spiked 30% on Wednesday.
• PHUN spiked 20%.
• And DatChat Inc. (NASDAQ: DATS) spiked 100%*!

On October 31, DATS’s subsidiary, Dragon Interact, announced it was launching a ‘Trump Trivia’ podcast.

Now … I don’t know if this podcast will be successful. If I had to guess, I’d say probably not. These penny stocks are always promoting new profit avenues that eventually implode on themselves.

But I’m most interested in the hype surrounding the election, not the actual business metrics.

Plus, StocksToTrade shows that DATS has a float of only 2.5 million shares … 

That satisfies our goal of 10 million shares or fewer. The low supply of shares helps prices spike higher when demand increases. It’s a simple law of supply and demand.

That’s why DATS was able to spike 100% on Wednesday. And the low float lends itself to future volatility as well!

Now … The intraday price action on DATS was less than stellar. It retraced almost all of its gains.

But in the wake of Tuesday’s election, this volatility could return quickly!

Here’s a chart of DATS thus far. Every candle represents one trading day:

DATS chart multi-month, 1-day candles Source: StocksToTrade

Keep these three Trump stocks on your watchlist this week.

And if you’re struggling for a trade plan, just prompt our AI trading-bot with one of the tickers.

It will spit out a trade plan as if you asked us directly.

Get ready for more major trading opportunities this week!

Cheers,

Bryce Tuohey

*Past performance does not indicate future results