Shares in Trump Media & Technology Group Corp (NASDAQ:DJT) skyrocketed in Monday's premarket trading following a dramatic weekend marked by what authorities are investigating as an assassination attempt on former U.S. President Donald Trump.
DJT stock was trading 60% higher in pre-market trading at the time of writing, after initially surging as high as 74%. If it holds onto these gains, DJT's valuation could increase from the current $5.87 billion to nearly $9.5 billion once the market opens.
Trump was injured Saturday evening during his rally in Butler, Pennsylvania, by a shooter positioned on a nearby roof.
Trump was in the middle of his speech, turned to the right with his hands on the lectern, when multiple gunshots rang out around 6:15 p.m. ET. Later, he posted on social media that he had been shot in the ear.
Reacting to the shots, Trump grabbed his right ear and dropped to the ground as Secret Service agents ordered him to get down and rushed to protect him. More gunshots could be heard as agents secured the area.
While Trump remained on the ground, additional shots were fired, causing loud screams from the crowd. Shortly after the initial shots, agents announced over the rally microphone, “Shooter’s down.”
Agents were ready to move Trump offstage into his nearby SUV, but he gestured for them to wait. He raised his fist in the air, prompting cheers from the rally crowd, and mouthed the word “fight” three times while pumping his fist. The crowd chanted “USA!” as agents escorted him down the stairs and into his vehicle.
The Secret Service reported that one rally attendee was killed in the shooting, and two others were critically injured. The FBI stated that all victims were male.
This alarming incident, threatening Trump's life, has prompted calls from lawmakers for an investigation into the Secret Service’s handling of the rally's security. The shooting occurred just before Trump is set to accept the 2024 presidential nomination at the Republican National Convention this week.
President Joe Biden condemned the shooting as “sick” in remarks from Rehoboth Beach, Delaware, and the White House later confirmed he spoke to Trump by phone.
The shooter was identified by the FBI as Thomas Matthew Crooks, 20, from Bethel Park, Pennsylvania. Crooks was reportedly a member of a local gun club and worked as a dietary aide at a nursing facility.
DJT stock has soared more than 76% in 2024, chiefly driven by Trump's strong emergence as a leading Republican candidate for the upcoming presidential election.