Trump Media, Other Trump-Linked Stocks Rally After Assassination Attempt On Former President
Several stocks are moving Monday following the attempted assassination of former President Donald Trump at a rally in Pennsylvania over the weekend. Here’s what you need to know.
What To Know: Shares of Trump Media & Technology Group Corp (NASDAQ:DJT), the parent company of social media platform Truth Social, are rallying Monday after a bullet grazed Trump’s ear at a campaign rally on Saturday. The former President was treated at a local hospital before being released Saturday night.
Analysts have suggested that the assassination attempt makes it more likely that Trump will win back the White House in November, according to CNBC. Several Trump-related stocks appear to be getting a lift from increased optimism around Trump’s chances of winning reelection.
Related Link: FBI Probes Trump Rally Shooting As Potential Domestic Terrorism: ‘It Appears That He Was A Lone Actor’
Phunware Inc (NASDAQ:PHUN) shares were up more than 30% while Rumble Inc (NASDAQ:RUM) stock was up approximately 8.5% at the time of writing, per Benzinga Pro.
Phunware has ties to Trump dating back to 2020 when the company announced that it was working on the development, launch and ongoing management of the Trump 2020 Reelection Campaign’s mobile application portfolio. Rumble is a video platform and cloud services provider focused on creating an independent infrastructure. The company entered into a technology and cloud services agreement with Trump Media & Technology Group in late 2021.
Other stocks getting a bump following this weekend’s campaign rally attack include gun and ammunition makers Smith & Wesson Brands Inc (NASDAQ:SWBI), Sturm, Ruger & Company Inc (NYSE:RGR) and AMMO Inc (NASDAQ:POWW).
Trump’s odds of winning the 2024 presidential election reportedly jumped to an all-time high after the former President survived the assassination attempt over the weekend.
The Republican National Convention is set to kick off as planned on Monday, marking the first chance for party members to rally behind Trump after he survived the assassination attempt.
Photo: Shutterstock.
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