Trump Media & Technology Group’s stock soared on Monday after the attempted assassination of former President Donald Trump.
Shares in Trump Media, Truth Social’s parent company, spiked by more than 30% after trading began Monday morning. The stock is now valued at around $40 per share — up from $30.88 on Friday, the day before Trump was shot at a Pennsylvania rally.
The former president is the company’s largest shareholder, with 114.75 million shares valued at more than $4 billion.
Trump Media’s stock has been volatile since its debut, with the value of shares dropping dramatically after Trump’s conviction on felony charges in May and swinging after the former president’s debate with President Joe Biden last month.
It is often described as a “meme stock,” with shareholders trading based on hype rather than the company’s fundamental value.
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