DJT stock continues to rise. Trump Media’s short selling campaign may be successful.

Shares of Trump Media and Technology Group rose early Wednesday morning, extending a winning streak since the company launched a campaign against short-selling shares.

Trump Media shares rose 2.6% in pre-market trading to $51.25 after Tuesday’s close, up 6.9%. The price has doubled since a low of $23 in mid-April. However, it is still well below the high it reached at $66 in late March, right after its merger with a special purpose vehicle that allowed it to remain listed.

The group continued to focus on short sellers in public statements this week. Short selling occurs when investors borrow shares to sell, hoping to buy them back later for a lower amount. On April 29, the company said shareholders could ask their brokers to recall shares if they were borrowed.

Donald Trump, the presumptive Republican presidential nominee in this year’s election, has posted on the Truth Social website amid allegations that he falsified business records in New York in an effort to influence the 2016 presidential election. He is accused of paying film actress Stormy Daniels in exchange for her silence on the matter. She allegedly had an affair with the former president. Trump denied the case and claimed he was being prosecuted for political reasons.

Trump owns about 115 million shares of the company, worth about $5 billion at current prices. He is not allowed to sell them during the six-month suspension period, but he can ask the company’s management board for an exemption.

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Write to Brian Swint at (email protected)