Shares in former President Donald Trump’s media company rose as results from NBC News projected him to win the disputed presidential election.

Trump Media & Technology Group Shares closed 5.9% higher on Wednesday, after comparing gains from earlier in the session, when the stock was more than 30% above $45 per share.

The stock extended its price overnight as Trump gained a solid lead in the Electoral College and narrowed the path to victory for Vice President Kamala Harris.

Trading was halted several times Wednesday morning due to volatility.

The stock, seen as a market proxy for the former president, rallied despite a surprise earnings statement after the bell Tuesday that showed the company lost $19.2 million in the third quarter. The operator of Truth Social is majority owned by Trump.

Stock prices have been volatile during the election season, rising and falling as Trump’s fortunes swirled during his neck-and-neck race with Harris.

Shares have fallen more than 34% over the past five trading sessions as Harris seemingly gained momentum in the final days of the race. However, the stock, with ticker DJT after the Republican’s initials, is up about 118% in the past month.

During Tuesday’s session, as the candidates made their closing push, the stock burst more than 18% at its session high before closing down 1.2%.

In its earnings release, the company reported revenue of just over $1 million.

“This has been an extraordinary quarter for the company, for Truth Social users and for our legion of private investors who support our mission to serve as a beachhead for free speech on the internet,” Trump Media CEO Devin Nunes said in a statement.

Nunes is a former congressman from California.

To be fair, stocks won’t necessarily respond perfectly to Trump’s victory. The stock could be influenced by other factors such as profit-taking, given strong profits already this year.