Trump Media surges after assassination attempt seen as boosting Donald Trump's reelection odds
CBSN
Trump Media & Technology Group's stock price soared 50% in premarket trading Monday as Wall Street recalculated the odds of former President Donald Trump succeeding in his reelection campaign following Saturday's failed assassination attempt.
The company, which owns the Truth Social platform, jumped $15.42 to $46.30 in trading before U.S. trade kicked off at 9:30 a.m. Eastern Time. The stock was up 36% shortly after financial markets opened. The jump reverses a six-week slump in Trump Media shares, which have exhibited volatile trading patterns since going public in March.
Trump Media — whose ticker symbol, "DJT," is the same as the former president's initials — is viewed by some as a so-called meme stock because its wild swings are influenced largely by social media enthusiasm rather than the business fundamentals that investors typically look for, such as profit and revenue growth.
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