Trump-Linked Stocks Surge After Shooting Attempt, But Retail Traders Are Divided

Donald Trump is preparing for the Republican presidential nomination after narrowly escaping an assassination attempt in Pennsylvania. Stocks linked to the former president surged early in Monday’s session, but retail investors remain divided on their potential.

Trump Media & Technology Group Corp. ($DJT)
Shares of Trump Media & Technology Group Corp., the company behind Truth Social, soared over 30% to their highest level in over a month at $39.98. Despite this, Stocktwits sentiment remained mostly bearish (43/100) amid normal levels of chatter.

One bearish watcher, BucksBaby, predicted “massive dilution on the horizon” due to Trump’s need for campaign funds, expecting him to “take full advantage of the circumstance.”

Meanwhile, bullish watchers expressed support, with user Steve_TheBull_Rogers writing, “Buying 1,000 more shares Monday to support our next President. God Bless you sir.” Another bullish user anticipated a “Red Wave coming” similar to Reagan’s post-assassination attempt surge in 1984.

Trump holds a 64.90% stake in TMTG with 114.70 million shares. The stock is up nearly 77% in 2024 despite a post-SPAC audit revealing a $58 million loss last year. Additionally, short interest has dropped from over 10% in March to 4.69% as of the end of June.

Phunware Inc. ($PHUN)

Shares of marketing software company Phunware Inc., hired by Trump’s 2020 campaign to build a mobile app, rose over 4% to $6.12. Retail interest was tepid, with a neutral sentiment score of 47/100 and normal message volumes. Both metrics peaked last month during the first Trump vs. Biden presidential debate and remain subdued despite $PHUN being added to the FTSE Russell Microcap Index, a popular benchmark for index funds and micro-cap managers.

Rumble Inc. ($RUM)

Shares of Rumble, a video platform popular among conservatives for its anti-censorship approach, rose 3.8% to $6.17. Stocktwits sentiment was bullish (70/100) amid normal activity levels. The company, which drew record viewers during the Trump vs. Biden debate last month, will host live shows during the Republican National Convention in Milwaukee. The event comes just two days after Trump narrowly survived an assassination attempt at his Pennsylvania rally. Bullish posts on Stocktwits showed watchers cheering Trump and anticipating further gains after three straight sessions in the green.

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