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Market speculation over former President Donald Trump’s election chances following an attempted assassination drove up the price of bitcoin and several stocks on Monday, including a massive rally for his social-media company.
Shares of Trump Media & Technology Group Corp. DJT, +31.37% jumped more than 31% on Monday after Trump arrived in Milwaukee for the Republican National Convention following the shooting at a political rally on Saturday that left one person dead and two injured.
The operator of the social-media platform Truth Social saw its stock price end the session up 31.4%. Some betting markets have predicted that Trump’s election chances are higher following the attempt on his life.
Trump, who owns a 65% majority stake in the company, said in a post on Truth Social on Sunday that he would be heading to the Republican National Convention early despite being shot in the right ear at a rally in Butler, Pa., on Saturday.
“Based on yesterday’s terrible events, I was going to delay my trip to Wisconsin, and the Republican National Convention, by two days, but have just decided that I cannot allow a ‘shooter,’ or potential assassin, to force change to scheduling, or anything else,” Trump wrote.
On Monday, the federal classified-documents case against Trump in Florida was dismissed by U.S. District Judge Aileen Cannon, a 2020 Trump appointee, who said the appointment of special counsel Jack Smith was unconstitutional.
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Shares of the Truth Social parent company had run up 131.9% to date in 2024, while the S&P 500 index SPX had advanced 18.1%.
Elsewhere, shares of Tesla rose 1.8%. Elon Musk, the CEO of the electric-vehicle maker TSLA, +1.78%, space-exploration company SpaceX and the owner of the social-media platform X, an ostensible rival to Truth Social, said in a post on X following the shooting that he has fully endorsed Trump’s candidacy for president.
