Shares of former President Donald Trump’s Truth Social social media platform rose significantly on Monday after 20-year-old Thomas Matthew Crooks tried to assassinate him on Saturday evening during a rally in Butler, Pennsylvania.
Shares jumped 30 percent to a price of $40, ABC News reported, noting that it is the highest figure for the stock in more than one month.
Sevens Report Research Analyst Tyler Richey told the outlet:
The stock serves as a little bit of a proxy for sentiment toward Donald Trump himself. I think there’s a resurgence of people — your die-hard Trump fans and fair-weather supporters — who think, “This is a life or death situation, we’re going all in.”
Richey said the news may mean the platform could have a chance to reinvest funds for improvement, adding there could also be a surge of users, as all eyes will be on Trump in the coming months.
On Monday, investors pushed U.S. stocks higher while markets gauged the aftermath of the horrific attempt on the former president’s life:
Many investors are focused on the so-called “Trump trade,” assessing which stocks and assets will do better if Trump wins back the presidency in November. Analysts on Wall Street believe the odds are rising that Republicans will not only take the White House but also the Senate, which retaining control of the House, for a GOP sweep.
The attempt on Trump’s life left him bloodied, one of his supporters dead, and two others injured. The U.S. Secret Service killed Crooks at the scene.
Video footage shows the moment that the shots rang out and that the bullet whizzed past Trump’s head, nicking his ear. However, he eventually stood up and defiantly raised his fist before being rushed offstage:
C-SPANIn April, Trump Media shares climbed after the company said it was debt-free and had more than $200 million in the bank, according to Breitbart News.
“Last year, the company had $4.1 million in revenue. The company has not disclosed the number of users on its Truth Social platform,” the report said.
“Donald Trump has around seven million followers, which may be a good proxy for total subscribers. On Twitter, Trump has over 87 million subscribers, suggesting that Truth Social may have a lot of room for growth,” it continued.
