Stock market price up
Trump’s Twitter rival jumps on the stock market
After the assassination attempt, the share price of Donald Trump's stock market company "Trump Media & Technology Group Corp." virtually exploded - and has made Trump even richer: the share price jumped by around 50% and broke new records. The company includes Trump's Twitter(X) rival Truth Social, which will gain in importance if he wins the election.
Apparently, most investors on Wall Street are now assuming that Trump will win the presidential election in November. One consequence of this would be that Trump's mouthpiece, the short message app Truth Social, would be extremely popular and user numbers would rise sharply. In anticipation of this scenario, the share price of listed parent company Trump Media climbed by around 50 percent to more than 29 dollars per share. By comparison, one share was worth just 19.57 dollars on Friday.
Background: Trump is known to have used the short messaging service Twitter excessively before and during his first presidency. However, after storming the Capitol on January 6, 2021, he was blocked on various social networks, including Twitter, although the current owner Elon Musk has since lifted the ban.
At times, Truth Social was number one in the Apple App Store
However, in order to be able to continue to get his messages out to the people at any time, Trump simply launched the Twitter competitor "Truth Social". On April 27, 2022, Truth Social even reached number one in the Apple App Store.
In March 2024, the parent company "Trump Media & Technology Group Corp." finally went public - and disclosed its finances for the first time. According to this, the company made a loss of around 328 million US dollars in the first quarter of 2024, with a turnover of just 770,500 dollars. Experts described the share as risky.
Trump Media is valued at over eight billion dollars on the stock exchange
Since the IPO, the price of Trump's stock market company has gone up and down: on April 16, a share was worth just 8.80 dollars, at the end of June it was briefly worth 27.62 dollars before falling again. But now, after the failed assassination attempt, it stands at almost 30 dollars, the highest it has ever been. In total, the company is now valued at over eight billion dollars.
As a major shareholder in Trump Media, Trump has certainly become much richer as a result of the recent jump in the share price. According to US magazine "Forbes", the shares are now his most valuable asset and even exceed the value of all his other assets such as real estate, hotels and the like.
The weal and woe of the shares currently depends solely on one man
However, experts advise investors to steer clear of the shares. Whether Truth Social can actually become a competitor to Twitter (X) in the long term remains to be seen. After all, the weal and woe of the share currently depends solely on one man.
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