Trump Media Shares Surge 30% Following Assassination Attempt

The value of former President Donald Trump’s social media company surged on Monday following an assassination attempt over the weekend that left him injured.

Shares of Trump Media & Technology Group rose more than 30% on Monday morning, marking the largest single-day increase since the company went public in late March.

In premarket trading, shares of Trump Media soared by as much as 70% before stabilizing during regular market hours.

This spike has significantly boosted the value of Trump’s dominant stake in the company, which owns Truth Social. At current prices, Trump’s 114.75 million shares in Trump Media are valued at nearly $5 billion, up from $3.5 billion on Friday, the day before the shooting at a rally in Butler, Pennsylvania.

Trading under the ticker symbol “DJT,” Trump Media has achieved a high valuation despite generating minimal revenue and Truth Social being a minor player in the social media landscape.

Experts describe Trump Media as a meme stock, driven by momentum and hype rather than financial fundamentals.

For months, Trump Media has allowed investors to bet on Trump’s potential return to the White House, with the idea that Truth Social could become the main platform for presidential communications.

Matthew Tuttle, CEO of Tuttle Capital Management, told CNN on Monday that traders are speculating Trump’s chances of winning the upcoming election have increased significantly in the past few days.

“You are seeing the Trump trade on steroids here. DJT is the go-to,” Tuttle said.

This rally comes as Trump prepares to formally accept the Republican nomination for president at the convention in Milwaukee this week.

Recently, Trump Media announced its inclusion in the Russell 1000 Index of large-cap stocks and the Russell 3000 Index. Consequently, many retail investors now indirectly own shares of Trump Media through mutual funds and exchange-traded funds (ETFs).