DJT Stock – Following the start of the Republican National Convention in Milwaukee, shares of Trump Media & Technology Group rose.
The price of bitcoin and the number of equities increased on Monday due to market speculation over former President Donald Trump’s prospects of winning reelection in the wake of an attempted assassination. His social media organization saw a significant surge in value.
Following the events on Saturday that left one person dead and two injured Trump landed in Milwaukee for the Republican National Convention which caused shares of Trump Media & Technology Group Corp. (DJT) to rise more than 29% on Monday.
DJT stock to crypto plays
In premarket trading on Monday, the owner of the social networking platform Truth Social experienced a 29.9% surge in its stock price. Following the attempt on his life certain betting markets have projected that Trump’s odds of winning reelection are better.
At a rally in Butler, Pennsylvania, on Saturday, Trump—who has a majority 65% ownership in the business—was shot in the right ear. Nevertheless, he said in a post on Truth Social that he will be attending the Republican National Convention.
“I was going to postpone my trip to Wisconsin and the Republican National Convention by two days due to the terrible events of yesterday, but I have decided that I cannot allow a shooter,’ or potential assassin, to force change to schedule or anything else,” Trump wrote.
U.S. District Judge Aileen Cannon rejected a classified documents complaint against Trump in Florida on Monday.
Up 131.1% as of Friday, the parent company of Truth Social had outperformed the S&P 500 index which had gained 18.6%. This was in 2024.
In other news, Tesla’s stock increased 5.6%. Following the shooting, Elon Musk, the CEO of SpaceX, an alleged rival of Trump’s social media company, and Tesla’s parent company, announced his unwavering support for Trump’s presidential bid in a post on X. Musk also owns the platform X.
Prominent cryptocurrencies and associated equities resumed their ascent on Monday, having surged following the assault on Trump, presumably in response to a more uncertain political landscape and a possible Republican triumph in November.
After surpassing $60,000 on Sunday for the first time since mid-June Bitcoin BTCUSD increased by 5%. Ethereum USD was up 5.5% and Solana SOLUSD was up 5%.
Alexander Blume, chief executive and co-founder at Two Prime, an investment adviser focusing on digital assets, said that market structure dictates price action and news events can act as a catalyst. “With the prior week’s drawdowns due to short-term German selling, [bitcoin] was likely poised for a rebound either way,” he said in a statement.
“That being said, Trump’s pro-bitcoin stance and his increasingly rosy odds of being elected, with the assassination attempt bolstering this further, does seem to be a meaningful catalyst moving price upwards.” Blume added: “We are at a critical price level around [$63,000].
We will need to see sustained demand for the breakout to continue. End-of-month statements from Trump at BTC Nashville and other bullish news coming from this event may help move the price upwards further.”
The Bitcoin 2024 event kicks off in Nashville on July 25 and runs through July 27. Trump is the headline speaker. Other speakers include independent presidential candidate Robert F. Kennedy Jr. Cathie Wood, founder and CEO of ARK Investment Management; comedian Russell Brand; and former National Security Agency contractor and whistleblower Edward Snowden.
Crypto exchange Coinbase Global Inc. COIN is up 11.1% Monday while MicroStrategy Inc. MSTR, one of the largest publicly traded holders of bitcoin, is up 14.3%. Spot bitcoin exchange-traded funds are also climbing, with BlackRock’s iShares Bitcoin Trust up 9.6%, Grayscale Bitcoin Trust up 9.6%, the ARK 21Shares Bitcoin ETF up 9.4% and the VanEck Bitcoin Trust up 9.6%.
Some Bitcoin miners are also rising. Marathon Digital Holdings Inc. MARA is up 9.2%, while Ebang International Holdings Inc. EBON is down 1.1% and Riot Platforms Inc.
RIOT is up 7.8%. Other sectors are also climbing following the failed assassination attempt. While the shooting has once again brought the issue of gun control into the spotlight, Trump is pro-Second Amendment.
Shares of firearm and ammunition makers are climbing, with Smith & Wesson Brands Inc. SWBI up 11% and Sturm Ruger & Co. RGR up 6.9%. Ammo Inc. POWW is up 19.2%. Prison-related stocks are also climbing, with CoreCivic Inc. CXW up 9.2% and Geo Group Inc. GEO up 10.3%.
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