The Trump Media & Technology Group (DJT) share price has shot up after the former US president survived an assassination attempt at a Pennsylvania rally. Shortly after the markets opened on Monday 15 July 2024, DJT stock jumped by roughly 40%.
Trump Stock Soars After Attempted Assassination
DJT-associated stocks, such as the Rumble (RUM) video platform, also experienced an uptick on Monday. Media reports described the attempted assassination as a “seismic event in political terms”, and the incident inevitably caused aftershocks that affected financial markets.
Both sides of the aisle are weighing in on the lasting effects of the Donald Trump shooting. Some think that it is a definitive moment that will shape the political and economic future, while others believe that it will be ‘business as usual’ once the waters settle.
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DJT shares seesawed between ups and downs over the past few months. After the first US presidential debate of 2024, the stock experienced a burst of momentum before dropping again. A day after Trump’s New York conviction, DJT shares took a 5% dive.
Trump Media merged with Digital World Acquisition Corp., a blank cheque company, to become Trump Media & Technology. This company made its Nasdaq debut on 27 March 2024. Truth Social, the social media platform that Trump created after his ban from sites such as Twitter and Facebook, falls under this umbrella.
Since its IPO, the DJT meme stock has decreased by roughly 20%. In April 2024, the company reported sales of more than $4m but acknowledged its profitability challenges.
At market close on 15 July 2024, DJT was 31.37% in the green.
