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Trump Media & Technology Group (DJT) stock is soaring in the wake of the assassination attempt on former President Donald Trump's life on Saturday. The stock has skyrocketed by over 50% following the incident.
Morning Brief hosts Brad Smith and Madison Mills break down the details of the stock's rise and provide insights into the wider "Trump trade," a term referring to stocks and sectors perceived to benefit from Trump's policies or influence.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Angel Smith
Trump Media shares surging following the assassination attempt of former President Donald Trump at a rally in Pennsylvania. On Saturday, Trump is the firm's majority shareholder right now of DJT, and they're taking a look at shares. They were up as much as 70, a little more than 70% pre-market, but still higher by about 55% right now. And this is essentially been one of those tickers to track as a proxy for support for former President Trump, given his holdings in the business. And as we've continued to see in some of the financial holdings, it's not the healthiest business, and still has a lot of ways to go to really satisfy some of the ambitions that more fundamental or traditional investors that would be looking under the hood, looking at profitability and the pathway to profitability sustained would typically require. But as it stands right now, for those who don't want to buy a hat, you can buy shares of DJT for about 10 bucks less.
It's important to note for investors listening who want to know how to position their portfolios surrounding the election cycle. This is certainly one of those names that gets an upside boost around any election movement to your point, Brad, that is in favor of the Trump campaign. We're looking at a name, DJT here, that is up over 76% year to date. And as we've been talking about throughout the show, this is part of the broader Trump trade. What does that exactly mean? It means you're going to see DJT moving to the upside. You're going to see Bitcoin moving to the upside. You'll also see the Treasury curve steepen as it's seen as a hedge against any inflationary pressures that a Trump presidency could mean for the broader economy. That's why you're seeing that movement in the Treasury space. And of course, upside pressure on the dollar as the former president we know has spoken about some tariff policies which could lead to a bit of a meltup in the US dollar as well.