Donald Trump's Stock (DJT) Surges by 40% Following Failed Assassination Plot

Money | July 15, 2024, 10:54 a.m.

Former President Donald Trump survived an assassination attempt at a Pennsylvania rally, causing shares of Trump Media & Technology Group (DJT) to skyrocket. The parent company of Truth Social saw a 40% surge in shares, while other Trump-related stocks, like Rumble, climbed over 10%. Betting sites also saw an increase in predictions of Trump winning the election. Despite the incident, political experts believe it may not have a lasting impact on Trump's presidential prospects. Terry Haines, founder of Pangaea, stated that while the event may have a short-term positive effect on Trump's campaign, voters are unlikely to change their opinions solely because of it. DJT shares have experienced fluctuations in recent months, with a 20% drop since going public on Nasdaq. Trump founded Truth Social after being banned from major social media platforms, with the company reporting significant losses despite a high market cap. Trump's stake in DJT is valued at approximately $3.5 billion, with stakeholders facing a six-month lockup period.