After an attempted assassination of former President Donald Trump, shares of Trump Media & Technology Group Corp. (NASDAQ: DJT) soared by over 50% on premarket trade on Monday.
This incident took place at a Trump Media rally over the weekend in Pennsylvania. It has raised questions regarding its potential impact on 2024 U.S. presidential elections as well as the future of Trump Media.
Trump Media CEO Responds to Incident
Devin Nunes expressed his sympathy to those injured in the accident and his family.
He demanded a rapid federal investigation in order to discover the details of this “cowardly” attack and determine whether others were involved.
A bullet that grazed the ear of former President Donald Trump during Saturday’s rally in Pennsylvania was taken to a nearby hospital.
What does the attempted assassination mean for U.S. Elections in 2024?
Markets have been affected by the attempted assassination on Donald Trump. The incident may increase Trump’s odds of winning in 2024.
Rob Casey, Signum Global Advisors’ Rob Casey commented on CNBC about the positive market reaction to the recent events. This could help Trump in the coming election.
Bitcoin is up by 4% as of the date this article was written.
Not all analysts, however, are positive. Goldman Sachs economists believe that Trump’s victory would be a major headwind to the Eurozone, underlining the global implications of U.S. politics.
What is the value of Trump Media in July 2024 stock?
Trump Media’s stock price has seen significant volatility since 2024. Stocks started at $17 and peaked at $66, dropped to $23 by mid-April before trading at around $46, currently.
The stock has still fallen over 30% since its high for the year.
Truth Social, the company’s social media platform, is based out of Sarasota in Florida.
Trump Media’s first quarter financial report showed a loss of $328.7 million dollars on revenue of $0.77 million.
Devin Nunes, CEO of the company, has announced plans to improve their platform through a streaming live TV service via their content delivery network.
Trump Media also faces several threats. Donald Trump’s use of Truth Social is crucial to the company’s success.
Trump Media could be negatively affected by Trump’s decision to change social media platforms.
This risk has been acknowledged by the management, which adds a level of uncertainty to potential investors.
Investors are also faced with an additional layer of uncertainty as Wall Street analysts do not cover Trump Media’s shares.
The recent attempt to assassinate Donald Trump has had an impact on the stock of Trump Media, causing a spike amid speculations about the implications it may have for elections in 2024. Some analysts believe this could boost Trump’s election prospects while others are concerned about the wider economic implications.
Before investing in Trump Media, investors should consider the inherent volatility of this stock. The company’s success will be closely linked to Donald Trump and his media strategy as the situation develops.
As new information becomes available, this post Trump Media stocks surge 50% after Donald Trump assassination try may change.
This site is for entertainment only. Click here to read more
