Trump’s social media stock spikes

(CNN)– Stock in former President Donald Trump’s social media company surged on Tuesday, Nov. 5.

The share price for ‘Trump Media and Technology Group’ spiked 13% on Tuesday morning.

That builds on a gain of 12% Monday and represents a rebound from 3 days of steep losses last week.

For months traders have been betting that a Trump victory could enhance the value of its conservative social network ‘Truth Social’.

That is because it could become an important platform for presidential communications.