Following the attempted assassination of former President Donald Trump on Saturday, early-market trading on Monday saw a significant 53% surge in the shares of Trump Media & Technology Group (DJT) as well as increases for crypto-related stocks.

The price of Bitcoin (BTC) also rose in response to recent events involving Trump. Seen as pro-crypto, the presumptive Republican nominee influenced BTC to surge above $63,000 on Monday.

Crypto-Related Stocks Surge

Crypto-related stocks experienced a notable increase following Bitcoin’s climb to a two-week high. Companies such as Coinbase Global (COIN), Riot Blockchain Inc (RIOT), and Marathon Digital (MARA) saw their stock prices rise by 5% to 7%.

Impact on Reelection

The assassination attempt could bolster Trump’s chances in the upcoming presidential election in November.

“The events on Saturday…strengthen the case for President Donald Trump to win the election in November. I think that’s what the markets have reacted to this evening,” Rob Casey, partner at Signum Global Advisors, said.

Stock Market Reaction

As of 6:30 EST, Trump Media & Technology Group’s stock was trading at $46.58 per share, up from a closing price of $30.88. By 9:07 EST, it had risen to $47.31, marking a 53% increase. However, by 9:38 a.m. EST, the shares were trading up 35%. Monday’s trading session will be critical in determining if the market maintains DJT’s gains.

Trump Media & Technology Group

Trump Media & Technology Group, the parent company of Truth Social, has seen its stock fluctuate throughout the election period. The stock is often a topic of discussion among equity volatility traders.

$DJT is the gift that keeps on giving to equity vol traders. The surface gets flat in a flash, and then slowly reprices vol in some areas 100+ vol points lower. Gamma scalping 1M – 3M long Vega calendars continues to work on this crazy name. Along with occasional pure arbs…

After Trump’s felony conviction and considering his majority ownership in the company, the stock dropped by almost 50% within three weeks. Truth Social also faces challenges in expanding its niche user base.

For more updates on cryptocurrency, investing, and finance, stay tuned to Global Crypto News.

Post Views: 12