Trump Media & Technology Group (NASDAQ: DJT) stock could become a hot buy after Donald Trump's election win last week. As the former president heads back to the Oval Office next year, there could be a lot more excitement around Trump Media stock and anything related to the Trump brand.

It is no surprise that Trump Media & Technology Group (NASDAQ:DJT) is up 6% in noontime trading following Donald Trump's spectacular election victory. Yet that is well below the 20% surge it posted when it burst out of the gate at the stock market's open.

The president-elect has threatened broadcast licenses and filed lawsuits against some networks. Executives are bracing for possible deal drama.

Trump Media stock was one of the clearest Trump trades going into the election. But since Nov. 6, the stock has fallen about 20% while the S&P 500 has risen 2%. The volatile stock was moving little in the premarket Thursday,