Finance
DJT shares rise after Donald Trump survives an assassination attempt
Trump Media & Technology Group (DJT) soared on Monday after former President Donald Trump survived an assassination attempt at a rally in Pennsylvania on Saturday.
Shares of the parent company of Trump’s social media platform, Truth Social, rose as much as 41% to close around $41. Other Trump-related stocks, such as conservative-leaning video platform Rumble (RUM), saw shares rise more than 20%.
Predictions that Trump will win the election jumped on several online gambling sites following the event.
It was the first time an American president or major party candidate had been shot since the assassination attempt on President Ronald Reagan in 1981.
One political expert said the incident may not have a lasting impact on Trump’s presidential chances.
“This was a seismic event in political terms, and yet it didn’t have much impact on how people think about the election,” Terry Haines, founder of policy consultancy Pangea, told Yahoo Finance. has a “short-term positive impact” on Trump’s campaign, he does not think it has “a long-term perspective.”
‘The logic of this doesn’t match. … It’s a terrible event, but that doesn’t mean voters are much more likely to turn out. [vote for him.]”
DJT stock has been on a bumpy ride in recent months, swinging between highs and lows.
Last month, the stock plummeted (and then fell) after current Commander-in-Chief Joe Biden stumbled in his first 2024 presidential debate with Trump.
In May, Trump was found guilty on all 34 counts of falsifying corporate records intended to influence the 2016 presidential campaign — a verdict that sent shares down 5% the day after the conviction.
Trump Media, the parent company of Truth Social, then went public on the Nasdaq to combine with a special purpose acquisition company Digital World Acquisition Corp.
Shares are down about 30% since the company’s public debut in late March.
Trump founded Truth Social after being kicked off major social media apps like Facebook (META) and Twitter, the platform now known as
In April one updated registration dossier showed that Trump Media reported revenue of just over $4 million, while net losses were nearly $60 million for the full year ended December 31. The company warned that it expects losses to continue amid heightened profitability challenges.
In May, the company reported First-quarter results showed losses of $327 million, mostly related to expenses related to the SPAC deal. The company announced on April 29 that more than 621,000 different shareholders owned shares in Trump Media, noting that the “vast majority” of these were retail investors.
Trump maintains a rough 60% interest in DJT. At current levels of about $41 per share, Trump Media has a market capitalization of roughly $5.6 billion, giving the former president a share of about $3.3 billion. Immediately after the company’s public debut, Trump’s stake was worth just over $4.5 billion.
In late April, the stock reached a milestone that netted Trump another $1.2 billion in cash. However, stakeholders are still subject to a six-month lock-up period before they can sell or transfer shares.
Alexandra Canal is a senior reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.
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