Trump Media shares up 33% after assassination attempt

On Friday, Trump’s media company shares were collectively worth approximately $3.5bn. Its value raised to approximately $5.1bn as of Monday afternoon.

In the wake of the assassination attempt on Donald Trump, the former president's media company — Trump Media & Technology Group — saw its stock price rise by 33 percent in Monday trading.

The media company owns Trump's Truth Social platform, and saw a 48 percent price spike before the opening bells rang on Monday, putting the company on track for its single best trading day since it debuted in March, Fox Business reports. Stocks sat up about 33 percent as of midday Monday.

Nick Ferres, the chief investment officer at Vantage Point Asset Management, told Reuters he believed that Trump would win in a "landslide," and attributed the spike in Trump's media organization to investors feeling more certainty in 2024's electoral outcome.

On Saturday, Thomas Matthew Crooks, 20, fired several shots at Trump during a campaign rally in Butler, Pennsylvania. Trump's ear was injured in the attack and a 50-year-old attendee was killed. Two other men were critically wounded and are receiving treatment.

Secret Service snipers killed Crooks moments after he began firing at Trump.

Former president Donald Trump gestures as he arrives at Milwaukee Mitchell International Airport a day after he survived an assassination attempt at a rally in Butler, Pennsylvania. Trump’s media company’s stock rose by 33 percent in premarket trading the Monday after the assassination attempt (Dan Scavino Jr/Reuters)

Trump's media company's stock prices have been volatile for nearly the entirety of its life as a publicly traded asset.

On Friday, the company's shares were collectively worth approximately $3.5bn. Its value raised to approximately $5.1bn as of Monday afternoon.

Devin Nunes, the CEO of Trump Media, offered his condolences to the families of the man killed and others who were wounded in the shooting.

"I thank God President Trump survived the assassination attempt and is now safe," he said in a statement. "The situation demands a fast, thorough federal investigation to determine all the circumstances of this cowardly attack and to identify if any additional persons were involved."

The attack came two days before the start of the Republican National Convention in Milwaukee. That event kicks off on Monday. Trump is scheduled to appear during the event, and President Joe Biden has ordered that the full force of the Secret Service be available to protect the 2024 candidate during his time in Milwaukee.