Many wonder how the assassination attempt on US presidential contender Donald Trump will affect the stock market. Some believe that the Republican presidential candidate’s chances of returning to the White House have increased, and many experts are analyzing how his victory will affect Wall Street, both thanks to the moves that are expected to re-fuel inflation and to expectations of discounts interest.
Meanwhile, as of this hour, futures contracts on Wall Street are up by about 0.5% and Bitcoin has risen sharply and was traded this morning at $62,500,000 per currency. Trump has previously spoken out in favor of the use of digital currencies while promising that he will ensure that digital assets remain protected, and he has even been invited to speak at the annual Bitcoin conference expected to be held at the end of the month in Nashville.
But while the Bitcoin surge does not, as far as is known at least, affect Trump’s personal fortune, the stock of Trump’s media company, Trump Media Jumps today (Monday) by 50% in pre-trade on Wall Street. If this is the case at the opening of trading, the company’s market value will jump to $8.7 billion from $5.9 billion before the opening, and the fortune of Trump, who owns about 60% of the company’s shares, will jump by about $1.8 billion.
Despite this, it is not clear when Trump will be able, if he so wishes, to exercise his shares in the company. The exercise needs the approval of the board and some doubt that it will be difficult for Trump since most of the board members are his supporters, including his son and three government officials who served during his presidency.
Trump Media went public at the end of March after merging with Spaq. The company’s stock has since risen by about 74% and not thanks to the financial performance of the failed company, but mainly thanks to the improvement of his chances of winning the elections in November after the confrontation between him and the incumbent President Biden. The company ended the year 2023 with a loss of 58 million dollars and revenues of only 4 million dollars and many professional investors believe that the share price does not accurately reflect the business reality of the company, to say the least.
The Trump Media people describe their “mission” as ending the hegemony of the tech giants over free speech while opening up the internet and giving the voice back to the people.
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