Yesterday, Trump Media & Technology Group’s stock price soared 32% in trading, alongside shares of other companies that could benefit from a Donald Trump presidency, following the assassination attempt on the Republican candidate boosted expectations he would win the November election.
Trump’s survival after he was shot in the ear on Saturday increased his already considerable lead in betting odds over President Joe Biden.
Trump Media & Technology, which owns the Truth Social platform, jumped $9.98 to $40.87 in morning trading on Monday. The jump reverses a six-week slump in Trump Media shares, which have exhibited volatile trading patterns since going public in March. The company’s value lifted to about $7.8 billion, according to financial data company FactSet.
Many of Trump Media’s shareholders are small investors who have bought the stock to express their support for the former president. For that reason, some Wall Street observers have noted that the company tends to act as a barometer of Trump’s reelection odds.
Get instructions on how to enable our Flash News Briefing skill to your Amazon devices:
Bautis Financial LLC is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Market Recap Week of 07/08/2024 to 07/12/2024