Trade in Trumpmedia Shares were halted multiple times Tuesday morning due to volatility as the company, majority owned by Donald Trump, tumbled in early trading.

The company, which trades on the Nasdaq as DJT, was shut down for five minutes at 9:36 a.m. ET as its shares rose about 14%.

Trading was halted for a second time at 9:42 a.m., with shares up almost 9%. The company was shut down again at 9:50 am

When it was shut down for the fourth time at 10:21 a.m., the stock was down more than 2%.

Nearly 16 million shares of Trump Media changed hands in the first 10 minutes of the trading day. As of 10:15 a.m., the company had already surpassed its 30-day average trading volume of 35.1 million shares.

The volatile session came after DJT shares already jumped more than 21% on Monday on extremely heavy trading volume.

These gains helped fuel a pre-election stock rally that began in late September, after a months-long sell-off that left the company’s stock price below $12.

Just over a month later, Trump Media shares were trading at more than four times that price.

The stock is up 224% so far this month and is on pace for its best month since October 2021, when the blank-check company known as DWAC announced its plan to merge with Trump’s then-private media company.

That merger, which Trump Media made public, was completed at the end of March.

The company’s share price has now easily surpassed its recent peak in mid-July, when the stock price soared after the Republican presidential candidate narrowly survived an assassination attempt.

Trump owns nearly 57% of the company, which operates the Truth Social platform. His stake at Monday’s close was worth more than $5.4 billion, which represents more than half of his net worth on paper, according to Forbes.

At the opening bell on Tuesday, the former president’s stake was worth more than $6 billion.

Despite losing hundreds of millions of dollars in scarce revenue in recent fiscal quarters, Trump Media boasts a market capitalization of more than $10 billion.

Analysts believe the company’s many pro-Trump retail investors are buying shares to support the former president or betting on his chances of defeating Democratic presidential candidate Kamala Harris.

Monday’s surge followed Trump’s major campaign rally at Madison Square Garden in New York City.

The company’s gains also coincided with political betting markets such as Polymarket and Kalshi leaning more toward Trump than Harris in recent weeks.

Gambling and betting platforms do not use the same methodologies used in traditional political polls, and are therefore not a substitute for political polls. Critics have raised concerns that election betting markets are being manipulated.

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