Trump Media & Technology Group’s stock saw a dramatic increase of 32% in trading on Monday. The share price jumped from $30.89 to $40.87, adding nearly $2 billion to the company's market value.
This big rise came after a failed assassination attempt on former President Donald Trump. Many investors now believe this event could improve Trump's chances in the upcoming presidential election. According to experts, the chances of Trump winning the election are now seen as very high.
Why Did Trump Media’s Stock Price Go Up?
Trump Media’s stock, which trades under the ticker symbol “DJT,” soared as investors reacted to the news of the assassination attempt. Before this, the stock had been falling for six weeks. But now, with the increased interest in Trump’s election prospects, the stock price shot up.
On Monday morning, the stock price of Trump Media went up by $9.98, reaching $40.87. This rise pushed the company’s total market value to $7.8 billion. The increase also made Trump’s personal stake in the company worth about $4.7 billion, a gain of $1.2 billion.
How Is Trump Media’s Stock Different?
Trump Media’s stock price is seen as a “meme stock.” This means that its value is driven more by public excitement and social media buzz than by the company’s financial performance.
Some investors on Truth Social, the platform owned by Trump Media, are excited about the stock’s future. They think the price might keep going up and are encouraging others to hold onto their shares.
What’s Next for Trump Media’s Stock?
With the failed assassination attempt and changing election odds, some believe Trump Media’s stock might continue to rise. Investors are also watching for a possible “short squeeze,” where investors who bet against the stock might have to buy shares, pushing the price even higher.
*So, if you’re thinking about investing in Trump Media, now might be the time to act before prices rise further.