Trump Media & Gun Stocks Surge After Assassination Attempt: A Market Perspective

After news of an assassination attempt on Donald Trump’s life surfaced, the financial markets witnessed a significant surge in certain sectors. Crypto stocks, gun stocks, and other companies that could potentially benefit under a Trump presidency saw a notable uptick in their share prices.

One of the standout performers was Trump Media & Technology Group, a company majority-owned by Trump himself. The stock witnessed a 30% surge, pushing its market value to $7.6 billion. This increase was fueled by renewed speculation that Trump might secure a second term as president, following the assassination attempt on him during a rally in Pennsylvania.

In addition to Trump Media, gun stocks such as Smith & Wesson Brands and Sturm Ruger & Company also saw a substantial increase in their stock prices, climbing between 7% and 15%. This surge is consistent with historical trends, as gun stocks tend to rise in response to events like mass shootings, civil unrest, and fears of increased gun control measures.

Other notable movements in the market included a 5.2% jump in Tesla’s stock price after Elon Musk publicly endorsed Trump post the assassination attempt. Crypto stocks also surged, with companies like Coinbase Global and bitcoin miners Riot Platforms and Marathon Digital seeing double-digit gains following a rally in bitcoin prices.

However, not all sectors fared well in the aftermath of the news. Clean energy stocks experienced a decline as Trump’s anti-climate policy stance raised concerns about potential reversals of current environmental regulations and incentives. The Invesco Solar ETF fell by 5.6% and the iShares Global Clean Energy ETF dropped by 3.7%.

Overall, the market reaction to the assassination attempt on Trump reflected a mix of optimism and uncertainty. Investors weighed the potential implications of a Trump presidency for various sectors, with some stocks benefitting from the perceived pro-business policies of the former president while others faced challenges due to his position on environmental issues and trade relations.

As the election approaches, market dynamics are expected to remain fluid, with investors closely monitoring political developments and their potential impacts on different industries. The post-assassination attempt rally in specific sectors underscores the intricate relationship between politics and the financial markets, where news events and policy outcomes can swiftly influence investor sentiment and stock prices.