Cashing In: How Donald Trump Is Making A KILLING From Surviving Assassination Attempt
Trump said his shoes were knocked off his feet when Secret Service agents threw him to the ground.
July 16 2024, Published 1:06 p.m. ET
Donald Trump is making a killing from the recent attempt on his life.
Shares in Trump Media and Technology Group, the company behind the ex-president’s Truth Social platform, have surged since a crazed 20-year-old opened fire at a campaign rally in Pennsylvania over the weekend, RadarOnline.com can reveal.
The business, which trades on the NASDAQ stock exchange under the ticker symbol DJT — also Trump’s initials — soared as high as $46.27 per share on Monday before dipping back down to close at $40.58.
The business, which trades on the NASDAQ stock exchange under the ticker symbol DJT — also Trump’s initials — soared as high as $46.27 per share on Monday before dipping back down to close at $40.58.
Trump is the majority shareholder, and his 60% stake in the company, worth around $3.8 billion on Friday, shot up in value by about $1 billion — some serious cash.
Neil Wilson, chief analyst at the brokerage company Finalto, said the meteoric rise was a “bet on Trump” amid speculation that the shocking assassination attempt would boost his lead in the polls.
As Wilson explained to The Guardian: “DJT is moving on Trump’s improved odds of winning. But it’s also because you think more people will be drawn to the platform to access a re-elected Trump.”
Bob Savage, head of markets strategy and insights at the investment bank BNY Mellon, added: “The narrative for the day rests on the ‘Trump trade’ with many investors assuming the weekend events add to the former president being re-elected.”
Susan Schmidt, head of public equity at State of Wisconsin Investment Board, told the BBC: “As the election intensifies, investors are betting that more individuals will tune in to the social media platform to express their views as well as be among the first to view the postings from President Trump and his team.”
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A judge dismissed Trump's classified documents case earlier this year.
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Trump launched Truth Social after he was banned from X, previously known as Twitter, following the January 6 riots at the U.S. Capitol in 2021. Although new owner Elon Musk reinstated his account, Trump has only posted on X once since.
Truth Social merged with Trump Media and began trading in March. Although it initially reached a high of more than $79 a share, the stock price plummeted after financial disclosures revealed major losses in 2023 — and took another nosedive during the former president's criminal hush money trial.
Things are looking up for now, but as RadarOnline.com previously reported, the tumbling share value already brought Trump's net worth down by more than $1 billion.
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