Trump Media & Technology Group’s Stock Price Soars 32% After Failed Assassination Attempt: Will Trump’s Reelection Odds Improve?

Trump Media & Technology Group’s Stock Soars 32% After Failed Assassination Attempt

In an unexpected turn of events, Trump Media & Technology Group’s stock price skyrocketed by 32% in Monday trading following a failed assassination attempt on former President Donald Trump over the weekend. The company, which owns the Truth Social platform, saw its shares surge $9.98 to $40.87 in morning trading, reversing a six-week slump.

The failed assassination attempt has recalibrated Wall Street’s expectations for Trump’s potential reelection, with The Economist’s prediction model now giving him a 3 in 4 chance of winning in November. Experts believe the recent events, including Trump’s strong debate performance and the assassination attempt, could lead to a significant Republican victory in the upcoming elections.

The surge in Trump Media’s shares has added approximately $1.9 billion to its market value, pushing its capitalization to $7.8 billion. This increase has also boosted the value of Trump’s stake in the company by $1.2 billion, bringing it to $4.7 billion.

Many small investors, who have shown their support for the former president by purchasing Trump Media’s stock, are now closely monitoring the company’s performance. Some believe that the stock could continue to gain momentum, with speculation that short sellers might be caught in a “short squeeze” as the stock price rises.

Members of a group focused on DJT shares on Truth Social are optimistic about the future of the stock, with one member stating, “Don’t even think about selling yet … this is just the beginning.” Another member emphasized the patriotic significance of owning DJT shares, highlighting the emotional and political undercurrents surrounding the company.

Overall, the recent events have not only impacted Trump’s political prospects but have also significantly influenced the trajectory of Trump Media & Technology Group in the stock market. The company’s wild swings in trading patterns have positioned it as a meme stock, driven by social media enthusiasm rather than traditional business metrics. It remains to be seen how these factors will continue to shape the future of both the company and the former president.