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Shares of Trump Media & Technology ( DJT 3.60% ) missed out on the "Trump Trade" last month as the stock briefly popped after the election but then gave up those gains in what seemed to be a "buy the rumor/sell the news" event. Trump Media & Technology, which owns Truth Social, brings in almost no revenue, and the stock became something of an avatar for the Trump campaign before the election. Now that he's won, investors seem unsure about what to make of the stock. Additionally, the stock moved on reports that it was in talks to buy a cryptocurrency trading platform. Overall, the stock finished the month down 11%, according to data from S&P Global Market Intelligence . As you can see from the chart below, the stock swung up and down over the month, though it traded in negative territory for nearly the entirety of the month. ^SPX data by YCharts. Trump Media whiffs on the election Most investors in Trump Media stock probably expected the stock to go up after the election, and that did happen briefly. Shares of Trump Media initially surged on Nov. 6, the day after the election, and they cooled off to finish that session up 6%. However, they plunged the following day as it seemed there was no direct benefit to Trump's winning the White House, and they would remain below their closing price the day before the election for nearly the rest of the month. The other big piece of news out on the company was that it was in advanced talks to buy Bakkt , a publicly traded cryptocurrency trading platform that's majority owned by Intercontinental Exchange , according to the Financial Times . The news outlet said the deal would be an all-stock purchase. The valuation was unclear, but Bakkt's market cap is currently $155 million. That report dovetails with Trump's recent embrace of crypto, and Trump Media is also considering launching its own crypto payment service, according to The New York Times . What's next for Trump Media At this point, Trump Media seems to be a call option on the power of the Trump name and the company becoming something more than the business currently is, as Truth Social is not a significant revenue driver. Trump Media is launching a streaming service, but the crypto play is intriguing and a good way for the company to leverage the power of the Trump name and his followers. Until the business starts generating material revenue, investors should be skeptical of the stock, but there is potential for the company here if it can leverage the value of its stock into a real business.
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N’DJAMENA, Chad (AP) — Chadians voted Sunday amid a low turnout in parliamentary and regional elections that will end a three-year transitional period from military rule but which the main opposition is boycotting after accusing authorities of not overseeing a credible electoral process. The parliamentary election is the first in more than a decade in Chad and comes months after the junta leader, Mahamat Idriss Deby, won a disputed presidential vote that was meant to return democracy. Deby took power in 2021 following the death of his father and longtime president Idriss Deby Itno, who spent three decades in power. Voting ended late Monday although official results won’t be known for about two weeks. The election will “pave the way for the era of decentralization so long awaited and desired by the Chadian people,” Deby said. The oil-exporting country of 18 million people, among Africa’s poorest, had not had a free and fair transfer of power since it became independent from France in 1960. The elections this year are the first in junta-led countries in Africa’s Sahel region to hold a promised but delayed return to democracy. At least 8 million voters are registered to elect 188 legislators in the Central African nation’s new National Assembly. Representatives at the provincial and municipal levels will also be elected. There was a low voter turnout in the capital N’Djamena, where only a handful of voters were seen in some polling stations. “We hope that the people we voted for do a good job for a better Chad, a Chad with a future,” said Mahamat Issa Hissein, who voted in the capital. More than 10 opposition parties are boycotting the vote, including the main Transformers party, whose candidate, Succes Masra, came second in the presidential election. The party has criticized the parliamentary election, as well as the presidential vote that many observers were banned from, as a “charade” and a ploy for Deby to remain in power to continue a “dynasty.” Masra briefly served as prime minister earlier this year after returning from exile before he resigned to run for president. On Saturday, he alleged that results of the vote would be tampered with and told voters, “It is better to stay at home.” Sunday’s election comes at a critical period for Chad, which is battling several security challenges from Boko Haram militant attacks in the Lake Chad region to the break in decadeslong military ties with France, its key ally. Mahamat Oumar Adam, a Chadian political scientist, said the main issue at stake in the election is not losing the country’s democracy to a prolonged transition. That transition began in 2021, and featured a national dialogue in 2022, a constitutional referendum in 2023 and this year’s presidential election. “This is the last stage of the process of exiting the transition (but) the shortcoming is related to the lack of opposition in this election,” Adam said. —- Asadu reported from Abuja, Nigeria.
President-elect Donald Trump has announced many of his picks for potential nominees for his Cabinet and other White House administration roles since winning the 2024 presidential election. While the picks still have to be officially nominated and approved in many cases, voters were recently asked to share whether they approve or disapprove of his current selections. What Happened: Trump's announced picks have generated plenty of discussion on social media and across the political spectrum with the announced pick of Matt Gaetz as attorney general eventually saw the former Congressman withdraw his name due to concerns of being a distraction and fears of not getting approval. A new Morning Consult poll asked voters for their approval ratings on Trump and his picks for the new White House administration. The poll found Trump had an approval rating of 53%, down from 54% in the poll published on Nov. 17. Split by political party, Republicans gave Trump a 91% approval rating, down from 93%, Independents gave an approval rating of 44%, down from 46% and Democrats gave an approval rating of 21%, up from 20%. Personnel Pick Ratings : Here are the approval and disapproval ratings of recent personnel picks by Trump for his next White House term. Marco Rubio, Secretary of State: 45% approval, 34% disapproval, 21% no opinion Robert F. Kennedy Jr. , Health and Human Services Secretary: 44% approval, 39% disapproval, 17% no opinion Mike Huckabee, U.S. ambassador to Isreal: 44% approval, 31% disapproval, 25% no opinion Mehmet Oz, CMS administrator: 41% approval, 38% disapproval, 20% no opinion Tulsi Gabbard , Director of National Intelligence: 39% approval, 33% disapproval, 29% no opinion Pam Bondi , Attorney General: 39% approval, 29% disapproval, 33% no opinion Elise Stefanik , U.S. ambassador to the United Nations: 38% approval, 29% disapproval, 33% no opinion Kristi Noem, Homeland Security secretary: 37% approval, 33% disapproval, 30% no opinion Pete Hegseth , Defense secretary: 36% approval, 32% disapproval, 32% no opinion Linda McMahon , Education secretary: 36% approval, 36% disapproval, 28% no opinion Scott Bessent , Treasury secretary: 36% approval, 25% disapproval, 39% no opinion Doug Collins , Veterans Affairs secretary: 35% approval, 25% disapproval, 40% no opinion Doug Burgum , Interior secretary: 35% approval, 26% disapproval, 39% no opinion Janette Nesheiwat , Surgeon General: 35% approval, 25% disapproval, 40% no opinion Matt Whitake r, NATO ambassador: 34% approval, 28% disapproval, 38% no opinion Sean Duffy , Transportation secretary: 34% approval, 28% disapproval, 38% no opinion Chris Wright , Energy secretary, 34% approval, 29% disapproval, 37% no opinion Lee Zeldin , EPA administrator: 34% approval, 29% disapproval, 37% no opinion Brooke Rollins , Agriculture secretary: 34% approval, 24% disapproval, 43% no opinion Marty Makary , FDA commissioner: 33% approval, 27% disapproval, 40% no opinion Dave Weldon , CDC director: 33% approval, 27% disapproval, 40% no opinion Howard Lutnick , Commerce secretary: 33% approval, 25% disapproval, 42% no opinion Russell Vought , Office of Management and Budget director: 33% approval, 26% disapproval, 41% no opinion Scott Turne r, Housing and Urban Development secretary: 33% approval, 26% disapproval, 41% no opinion Brendan Carr , FCC chair: 32% approval, 26% disapproval, 42% no opinion The new results did not include Elon Musk and Vivek Ramaswamy, co-leaders of the Department of Government Efficiency. In the previous poll , Musk had approval rating of 45%, 40% disapproval and 15% said no opinion. Ramaswamy had a 39% approval rating, 34% disapproval and 27% said no opinion. Did You Know? Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool Why It's Important: McMahon received a 36% approval and 36% disapproval as the only candidate to not have a higher approval than disapproval. This could be bad news for the former WWE executive as the last poll saw Gaetz as the only person with a higher disapproval than approval rating at 41% and 34% respectively. With Gaetz and Musk, who had a disapproval of 40% previously, no longer in the poll, it is Kennedy who has the highest disapproval followed by Oz and McMahon. The highest approval ratings go to Rubio, Kennedy and Huckabee. The last poll also saw Rubio and Kennedy have the highest approval ratings. Huckabee again has the highest net approval rating at 13 points, followed by Rubio at 11 points. Read Next: Trump HHS Pick Robert F. Kennedy Jr.’s Wealth Comes From Family, Law Practice, Oil, Bitcoin Photo: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Elevai Labs Inc. Announces Withdrawal of Offer to Exchange and Plans to ReassessIn an apparent tit-for-tat move, China said on December 3 that it would , a day after the Biden administration tightened Chinese access to advanced American technology. The said the bans are an escalation of the tech war between the world’s two biggest powers, and signal Beijing’s willingness to engage in supply chain warfare. The bans cover sales to the U.S. of gallium, germanium, antimony and so-called superhard materials used to make valuable products, such as weaponry and semiconductors, on the grounds that they have dual military and civilian uses, China’s Ministry of Commerce said. The export of graphite would also be subject to stricter review. The U.S. Commerce Department announced December 2 it will expand the list of 140 companies included in the so-called “entity list,” and would limit exports of high-bandwidth memory chips to China, which are needed to process massive amounts of data in advanced applications such as artificial intelligence. China’s Commerce Ministry at that time protested and said it would act to protect its “rights and interests.” RELATED CONTENT RELATED VIDEOS Related Articles
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