As a seasoned financial analyst with over two decades of experience in the stock market, I’ve witnessed countless events that have significantly impacted various sectors and individual stocks. The recent attempted assassination of former President Donald Trump and its aftermath is no exception.
After the failed assassination attempt on ex-President Donald Trump last weekend, there was a significant jump of 53% in the stock prices of Trump Media & Technology Group (DJT) during early trading on Monday. Additionally, there were gains for cryptocurrency-associated stocks as well.
Following recent Trump-related occurrences, the cost of Bitcoin (BTC) rose noticeably. The presumed Republican nominee’s perceived support for cryptocurrency likely influenced this price surge, with BTC reaching an all-time high above $63,000 on Monday.
Following Bitcoin’s rise to a two-week peak after recent Trump-related developments, stocks connected to cryptocurrencies showed notable growth. Specifically, Coinbase Global (COIN), as well as bitcoin mining companies Riot Blockchain Inc (RIOT) and Marathon Digital (MARA), experienced upticks in their stock values, ranging from 5% to 7%.
Reelection
A failed assassination attempt on Trump might bolster his support among voters, enhancing his chances of securing the presidency in November.
“Saturday’s occurrences lend more credence to President Donald Trump securing victory in the November election, according to Rob Casey, a partner at Signum Global Advisors. This seems to be the markets’ interpretation as well, based on their reactions tonight.”
At 6:30 EST, I observed that the DJT stock was priced at $46.58 per share, representing a significant surge from its previous closing price of $30.88. By 9:07 EST, this upward trend continued, with the stock trading at $47.31, marking a noteworthy increase of 53%. However, Monday’s trading session will prove pivotal in ascertaining whether the market manages to sustain these gains for DJT. As it currently stands, by 9:38 a.m. EST, the DJT shares are experiencing a rise of approximately 35%.
Crypto and stocks
As an analyst, I would put it this way: I’ve observed that Truth Social, the social media platform linked to former President Trump, is a subsidiary of Trump Media & Technology Group. The stock value of this parent company has experienced volatility throughout the election season.
As a researcher studying equity volatility trading, I can’t help but marvel at the unpredictable nature of $DJT. In an instant, its surface appears tranquil, only to gradually reprice volatility in certain areas by 100 or more vol points lower. This rollercoaster ride continues to provide ample opportunities for gamma scalping strategies using long vega calendars, ranging from 1 million to 3 million dollars, not to mention the occasional pure arbitrage plays.
— Kris Sidial🇺🇸 (@Ksidiii) July 15, 2024
Following Trump’s criminal conviction and given his significant stake in the business, the company’s stock experienced a steep decline of nearly 50% over a three-week period. Truth Social, meanwhile, encounters hurdles in growing its narrow user demographic.
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2024-07-15 16:44