NewsletterTrump Media (DJT) Stock Skyrockets 70% Following Assassination Attempt
Highlights
- DJT stock soared 70% in premarket trading after a failed assassination attempt on Donald Trump.
- The incident bolstered Trump's re-election prospects and led to a crypto market rally.
- High-profile endorsements and Trump's commitment to the Bitcoin 2024 Conference boosted investor confidence.
The stock market has witnessed a surge in Trump Media & Technology Group Corp. DJT stock following a tumultuous weekend for former President Donald Trump. The company’s shares soared an astonishing 70% in premarket trading on Monday, a movement that has captured the attention of investors and political observers alike.
Trump Media Stock (DJT) Surge
Shares of Trump Media & Technology Group Corp. (DJT) experienced a significant surge in premarket trading on Monday. The company, associated with former United States President Donald Trump, saw its stock price skyrocket by 70%, reaching $51.70 per share in the pre-market. However, as at time of reporting the DJT stock has retraced to $46.29 with a current share price of $30.89.
This substantial increase comes in the wake of a reported failed attack on the former president over the weekend. Despite the gravity of this incident, the market response has been notably bullish for DJT stock. The surge in stock price indicates strong investor confidence in the company, potentially influenced by recent events and their perceived impact on Trump’s public profile and business interests.
The attack on Donald Trump last Saturday was ultimately foiled which significantly boosted the re-election chances of the former US president. With Trump projecting himself as the pro-crypto candidate Bitcoin and the broader crypto market registered a strong rally.
Notably, despite the reported attack attempt, sources indicate that Donald Trump remains committed to his scheduled appearance at the Bitcoin 2024 Conference, set to take place in the last week of July. This commitment suggests that the former president is maintaining his engagement with the cryptocurrency community and related technology sectors.
Also Read: Ex-FTX Exposes Silvergate Bank’s Knowledge Of Suspicious Transactions
Meme Coins and Political Endorsements
The weekend’s event have had a ripple effect across various cryptocurrency markets, particularly in the meme coin sector. Asides the surge in the DJT stock price, the MAGA (TRUMP) coin experienced a dramatic 60% price increase, pushing it above $10. However, subsequent profit-taking by large holders led to a 25% correction from its peak.
CoinGape has also reported that other meme coins have also seen significant gains, with the top ten meme coins showing increases of 4-10% over a 24-hour period. This surge in meme coin prices, coupled with Trump’s upcoming speech at the Bitcoin 2024 conference, has created new investment opportunities in the crypto market.
Adding to the political dimension, Tesla CEO Elon Musk and Tron Founder Justin Sun have publicly endorsed Donald Trump in his bid for the White House. These high-profile endorsements, coming shortly after the failed assassination attempt, further underscore the intertwining of politics, technology, and cryptocurrency in the current landscape.
Also Read: Galaxy CEO Novogratz Reacts On China’s Latest Bitcoin Stance
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