Trump Media shares surge 55% in premarket trading after assassination attempt
Former US President and Republican presidential candidate Donald Trump speaks during a campaign rally at the Historic Greenbrier Farms in Chesapeake, Virginia, on July 28, 2024.
Jim Watson | Afp | Getty Images
Trump Media shares surged over 50% in premarket trading Monday following the attempted assassination of former President Donald Trump at a rally in Pennsylvania on Saturday.
Trump was grazed by a bullet and treated at a local hospital, but released late Saturday night after the shooting at a rally in Pennsylvania.
Shares in Trump Media & Technology Group were 52% higher in premarket trading at 6:09 a.m. ET, off earlier highs.
Analysts suggested the assassination attempt could make a Trump victory in the November election more likely.
“The events on Saturday, if they do anything, they strengthen the case for President Donald Trump to win the election in November. I think that’s what the markets have reacted to this evening,” Rob Casey, partner at Signum Global Advisors told CNBC’s “Squawk Box Europe” Monday.
Trump Media, the parent company of social media platform Truth Social, has seen volatile trading throughout the election race. The stock plummeted nearly 50% in the three weeks following the felony conviction of Trump, who is also the firm’s majority shareholder.
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Source – CNBC
