The shares of Trump Media & Technology Group (TMTG) surged by 67 per cent in the pre-market trading, reaching around USD 50 following the weekend filled drama as the former US president, Donald Trump was shot in the ear at a rally in Pennsylvania on Sunday.
This sudden surge in the stock was experienced after the company had a significant 37 per cent slump since the end of May and this recent surge has had also put TMTG on course to erase those losses entirely.
![shares of Trump Media & Technology Group (TMTG) - Screengrab](https://media.assettype.com/freepressjournal/2024-07/1c1ec90d-4206-4854-a957-c7624cc40367/Screenshot 2024-07-15 190541.png)
shares of Trump Media & Technology Group (TMTG) - Screengrab |
Donald Trump Assassination Attempt
The former US President Donald Trump was shot in the ear at a rally in Pennsylvania on Sunday by a 20 year shooter Thomas Matthew Crooks. Despite the injury, Trump quickly reassured his supporters by pumping his fist and continuing with his campaign.
![former US President Donald Trump was shot in the ear at a rally in Pennsylvania on Sunday by a 20 year shooter Thomas Matthew Crooks](https://media.assettype.com/freepressjournal/2024-07/19a7db21-ae5f-402b-8eb7-18c678573ef2/Hero Image - 2024-07-14T074203.991.jpg)
former US President Donald Trump was shot in the ear at a rally in Pennsylvania on Sunday by a 20 year shooter Thomas Matthew Crooks |
This incident, coupled with rising odds of a Trump victory, led to a significant rise in the shares TMTG.
Trump Media’s Market
Trump Media which has seen a stock surge by 75 per cent so far this year, holds a majority stake in the social media platform Truth Social.
The platform was launched after Trump was banned from major social media sites following the Capitol riot in 2021.
![Donald Trump Rally Firing: Photo Shows Bullet Sliding Inches Away From Ex-President's Face During Attack In Pennsylvania](https://media.assettype.com/freepressjournal/2024-07/2f4f7a1c-91be-4ff7-bf41-25074f03d88f/Hero Image - 2024-07-14T094918.986.jpg)
Donald Trump Rally Firing: Photo Shows Bullet Sliding Inches Away From Ex-President's Face During Attack In Pennsylvania |
The remaining shares of TMTG are held by retail investors.
Broader Market Reactions
Beyond TMTG, the pre-market rally also had affected other stocks that could or might get benefit from a Trump presidency.
The shares of crypto exchange Coinbase Global and bitcoin miners Riot Platforms Inc and Marathon Digital gained between 6 per cent and 7 per cent respectively.
Prison stocks Geo Group and CoreCivic surged about 7 per cent each and the shares of gun maker Smith & Wesson Brands saw a rise of 2.7 per cent.
![](https://media.assettype.com/freepressjournal/2024-07/001a1510-813b-45a2-b6b7-88f813be916c/Screenshot 2024-07-15 190316.png)
Software developer Phunware, known for building a phone app for Trump’s 2020 re-election campaign, surged 50 per cent. On the other hand, the video-sharing platform Rumble, popular among conservatives, added 18 per cent.
![Screengrab of Software developer Phunware](https://media.assettype.com/freepressjournal/2024-07/5075ddcc-7ee4-4cf5-ab3e-30e37ace05b5/Screenshot 2024-07-15 190057.png)
Screengrab of Software developer Phunware |