Trump Media & Technology Group stock surged around 50% in premarket trading as Donald Trump declared victory in the presidential election.DJT stock was up 47% to $49.81 early Wednesday. That would be the largest one-day percentage on record since the company merged with Digital World Acquisition Corp.

The moves came on Tuesday as the parent of the social-media platform, Truth Social, unexpectedly reported its third-quarter results on Election Day after the closing bell. The company disclosed narrowing losses from a year ago even as sales dropped.