Trump Media & Technology Group saw its stock surge more than 21% to over $47 per share on Monday, reaching a market cap of over $9 billion. The recent rally follows Trump’s rally in New York City ahead of the presidential election, pushing TMTG’s valuation above Elon Musk's X, formerly Twitter. Fidelity’s latest valuation of X, based on its minority stake, is about $200 million below Trump Media's. Despite Musk reinstating Trump’s account on X and other platforms, Truth Social remains the former president’s preferred social media.