Three stocks are generating buzz among day traders banking on a Donald Trump victory next week. Retail investors have increasingly focused in on Trump Media & Technology , Rumble and Phunware as stocks that can benefit if the Republican presidential nominee for president prevails. That’s already sent the names on wild moves — and they could be in for more as Americans head to the ballot box. Some of these stocks have clearer connections to the former president than others. Trump Media & Technology, which owns the alternative social media platform TruthSocial, trades under a ticker — DJT — that’s also the initials for the business mogul-turned-politician. Phunware made Trump’s campaign app, while Rumble is a video platform focused on conservatives. To be sure, these trades are considered risky due to high volatility and poor financials. None of these companies turned a profit in 2023. Trump Media, which has the largest market cap of the three, was still less than 25% of median S & P 500 stock size of $37.6 billion. On top of that, few — if any — analysts on Wall Street cover these names. The latest NBC News poll also shows the race between him and Vice President Kamala Harris is in a dead heat. “Making financial bets based on which stocks you think will do best based on an election outcome is not new,” said Christopher Schwarz, a finance professor at the University of California Irvine whose research focuses in part on retail traders. But when it comes to names like DJT, “these stocks have no fundamental reason to be at any price close to the price they’re at.” Still, these names are bound to make headlines and appearances on forums like Reddit’s WallStreetBets in the runup to and directly following the election. CNBC compiled more information about these names and what’s driving interest from some traders: Trump Media & Technology The TruthSocial parent has gained the most attention given the nominee’s stake valued at more than $5 billion as of earlier this week. He holds around 114 million shares, which amounts to ownership of more than half of the company. The stock has seen volatile trading over recent days as voting day draws closer. Shares dove more than 20% on Wednesday, reversing course after jumping more than 8% the day prior. Before Wednesday, the stock had seen a pre-election rally. It pulled the shares out of a slump that at one point sent its price below the $12 mark. On Tuesday, it closed at $51.51. Shares are now more than 160% higher in October, which would mark its first positive month since March. Year to date, they are up more than 140%. Trump Media has seen the highest daily net inflows from retail investors of the year over recent days, according to data analyzed by Vanda Research. That underscores the pour into the name amid the pre-election rally. On Tuesday alone, retail traders were net buyers of Trump Media to the tune of $14.4 million. It’s also been the most discussed stock on WallStreetBets, the popular Reddit forum for meme stock traders, over the last seven days, according to data from Quiver Quantitative as of Wednesday afternoon. The stock has been named more than 17,000 times on the forum this year, the firm said. The U.S. president and vice president are largely exempt from government conflict of interest rules. Still, Trump would be the first to hold office while controlling a publicly traded company. His DJT holding equates to nearly 75% of his net worth. Trump has said that he has no plans to sell his position. “There’s never been, I don’t think, any particular case where the potential future President of the United States probably has such a direct economic impact on particular firms,” said UC Irvine’s Schwarz. Schwarz said there’s no reason for Trump Media to even be publicly traded given its business fundamentals and high price-to-sales ratio. Given that, he said trading is based solely on “speculation.” “Trump Media has no fundamental value — it’s worthless,” he said. “That’s why the outcome of the election probably has such a big impact on what the price of the stock is.” Trump Media reported a loss when looking at net income and EBITDA in 2023. The company had 36 employees as of the end of last year. Phunware and Rumble The other two stocks have a less direct connection to the Republican candidate. Phunware is billed as a mobile software and blockchain company. Beyond the Trump campaign app, Phunware lists Marriott, Atlantis and the Mayo Clinic among clients on its website . The stock has seen major swings over the past year, trading as high as above $24 and as low as below $3. The company employed just 25 people at the end of 2023 and saw losses when looking at net income and EBITDA that year, per FactSet. Phunware has also seen an uptick in net inflows from everyday investors in October, according to Vanda data. Shares have surged more than 140% in the month. It’s also up more than 80% in 2024, on track to snap a two-year losing streak. PHUN YTD mountain Phunware, year to date All four analysts polled by LSEG have buy ratings on the stock. The average price target implies shares can rise nearly 90% above the $15 mark. To be sure, price target estimates vary widely within this group — from as low as $8 to as high as $20. Rumble, on the other hand, hasn’t seen a similar spike as Nov. 5 gets closer. Still, the company is viewed as a Trump-connected play given its video platform that’s popular among conservatives. The company employed just under 160 people at the end of last year and also posted losses on net income and EBITDA in the year. It went public in September 2022 with the backing of PayPal cofounder Peter Thiel. Shares have risen 13% in October, bringing its year to date gain to 36%. Shares have traded within a tighter range over the last 52 weeks, sitting between $3.33 and $9.20. The two analysts surveyed by LSEG both have hold ratings on the stock. Both have an $8 price target, which suggests shares can climb more than 34% over the next year. — CNBC’s Robert Frank and Fred Imbert contributed to this report.
Check out the companies making headlines in midday trading: T-Mobile — Shares pulled back 11% after the company’s wireless subscribers for the first quarter missed Wall Street estimates. T-Mobile reported 495,000 postpaid phone additions in the first-quarter, while analysts polled by StreetAccount were looking for 504,000. Alphabet — The Google parent company gained about 2% on the heels of better-than-expected first-quarter results . Alphabet reported $2.81 per share on revenue of $90.23 billion, while analysts polled by LSEG forecast $2.01 in earnings per share and $89.12 billion in revenue. Skechers — Shares fell 4.8% after the footwear maker posted weaker-than-expected revenue for the first quarter and withdrew its 2025 guidance due to ” macroeconomic uncertainty stemming from global trade policies .” The company’s earnings for the quarter came in above analysts’ estimates, however. Gilead Sciences — The biopharmaceutical stock fell 2.5% after first-quarter revenue came in at $6.67 billion, missing the consensus forecast of $6.81 billion from analysts polled by LSEG. However, the company earned $1.81 per share, excluding items, in the quarter, beating Wall Street’s estimate of $1.79 a share. Saia — Shares of the shipping company fell 31% after first-quarter results missed estimates and showed a slowdown in March. Saia reported $1.86 in earnings per share on $787.6 million in revenue. Analysts surveyed by FactSet were expecting $2.76 in earnings per share on $812.8 million in revenue. BMO Capital Markets downgraded the stock to market perform from outperform and said the issues were “company specific.” Intel — The chipmaker declined 7% after Intel’s current quarter missed investors’ expectations. Intel forecast revenue in the June quarter of $11.8 billion at the midpoint, while consensus forecasts called for $12.82 billion, per LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce both its operational and capital expenses. Boston Beer — Shares of the Samuel Adams brewer were more than 1% higher after better-than-expected first-quarter results. Boston Beer notched earnings per share of $2.16 on revenue of $453.9 million, while analysts polled by FactSet were looking for 56 cents per share on revenue of $435.6 million. Boston Beer cautioned that tariffs could hurt full-year earnings. Tesla — The Elon Musk-helmed electric vehicle company surged 10%. Shares have advanced more than 17% this week as the broader market tries to recover from a steep sell-off for much of April. — CNBC’s Jesse Pound, Alex Harring and Sean Conlon contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
Check out the companies making headlines before the bell: Meta Platforms — The Facebook and Instagram parent jumped about 3%. Meta cut staff in its Reality Labs division, CNBC reported. Alphabet — The Google and YouTube owner climbed more than 4% after first-quarter results topped Wall Street expectations. Alphabet earned $2.81 per share on $90.23 billion in revenue for the quarter, while analysts surveyed by LSEG had estimated $2.01 per share and $89.12 billion in revenue. T-Mobile — Shares of the telecommunications company fell 5.5% after it reported fewer first-quarter wireless phone subscribers than the Street expected, seeing 495,000 postpaid phone additions versus analysts’ call for 504,000, according to StreetAccount. Earnings and revenue for the first quarter topped Street estimates. Intel — The chipmaker fell 7.2% after the outlook for the current quarter disappointed investors. Intel guided for revenue in the June quarter to come in at $11.8 billion at the midpoint, less than consensus calls for $12.82 billion, according to LSEG. Management anticipates earnings will break even. Intel also announced plans to reduce its operational and capital expenses. Gilead Sciences — The biopharmaceutical stock slid 3.9% after posting first-quarter revenue of $6.67 billion, missing the consensus estimate of $6.81 billion from analysts polled by LSEG. Gilead earned $1.81 per share, excluding items, in the quarter, while Wall Street penciled in $1.79. Skechers — The footwear maker slumped 6% after reporting lower-than-expected first-quarter revenue and withdrew its 2025 forward financial forecasts on account of ” macroeconomic uncertainty stemming from global trade policies .” Skechers’ bottom-line results came in above analysts’ forecasts. Charles Schwab — The financial services provider advanced 1.4% after Goldman Sachs upgraded shares to buy from neutral, calling Schwab a resilient growth stock amid an uncertain backdrop. Hasbro — The toy company rose about 1% one day after soaring 15%. Citigroup raised its investment opinion to buy from neutral, saying Hasbro’s stronger-than-expected Wizards of the Coast business outweighs any uncertainty stemming from tariff policy, according to analyst James Hardiman. Boston Beer — Shares of the Samuel Adams brewer rose nearly 3% after first-quarter results beat expectations. Boston Beer generated $2.16 in earnings per share on $453.9 million of revenue, while analysts surveyed by FactSet looked for 56 cents per share on $435.6 million in revenue. Boston Beer warned in its outlook that tariffs could hurt full-year earnings. — CNBC’s Alex Harring and Jesse Pound contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
“I think having that professionally managed portfolio is really beneficial to clients,” Coyne told CNBC’s “ETF Edge” this week. “We’re seeing just… greater volatility [and] uncertainty across both the equity and fixed income markets.“
According to Coyne, the T. Rowe Price Capital Appreciation Equity ETF suits investors who are looking for long-term growth.
“The objective of the fund is to outperform the S&P 500 with lower volatility and greater tax efficiency,” he said. “It’s also a more concentrated portfolio, typically holding around a hundred names.”
The T. Rowe Price Capital Appreciation Equity ETF is down about 5% so far this year while the S&P 500 is off about 7% However, the ETF is up close to 8% over the past year — roughly identical to the S&P 500’s performance.
Coyne notes the T. Rowe Price U.S. Equity Research ETF follows a similar strategy, but with a heavier weighting in top tech stocks.
“This is more of a large-cap growth product [T Rowe Price U.S. Equity Research ETF],” he said. “There are components of characteristics of both passive and active here. This fund is actually managed by our North American directors of research. So again, strong fundamental research is going into the stock selection.”
Both the T. Rowe Price U.S. Equity Research ETF and S&P 500 are down around 7% since the beginning of the year. Meanwhile, the fund is up almost 9% over the past year. That’s less than one percent better than the S&P 500’s performance.
T. Rowe Price U.S. Equity Research ETF vs. S&P 500
‘Some form of bear market’
Strategas Securities’ Todd Sohn thinks investment demand for active managers will continue to be strong.
“This is the type of the environment where it [active management] can actually shine,” the firm’s senior ETF and technical strategist said. “We are in some form of bear market. This is where the active manager really can come into hand and offer their solution they are doing right.”