As Donald Trump held a rally in New York City, Trump Media (DJT, DJTWW) stock surged on investor speculation about his electoral prospects. Tuttle Capital Management CEO Matthew Tuttle shares his outlook on the stock.

Tuttle characterizes DJT stock as "a binary bet on the election." He suggests that while a Trump victory could initially drive the price higher, it might be a "buy the rumor, sell the fact" scenario, potentially leading to a significant post-election decline. "If he loses, I think it goes to 0," Tuttle predicts.

Regarding the company's fundamentals, Tuttle expresses skepticism about its core business model.

"This company still has a lot that it's got to do because of the core business — You gotta wonder why you need a Truth Social platform," he tells Yahoo Finance. He points out that Trump is no longer banned on X (formerly Twitter), censorship concerns have diminished, and previously suspended conservatives have returned to the platform.

"What do you need Truth Social for?" Tuttle questions, adding: "So they're still going to have to execute. I would not be buying this the day after Trump wins. Things have to settle out."

To watch more expert insights and analysis on the latest market action, check out more Catalysts here.

This post was written by Angel Smith