Trump Media Stock Takes a Hit Following Assassination Attempt

Shares of Trump Media, the company behind former President Donald Trump's social media platform Truth Social, experienced a decline on Monday following an apparent assassination attempt on Trump over the weekend.

• The stock, trading under the ticker "DJT," closed down 3.8% at $17.28 per share.
• Trump Media's market capitalization stood at roughly $3.4 billion at the close.

The Assassination Attempt and Its Aftermath

The incident occurred on Sunday at Trump's golf course in West Palm Beach, Florida. U.S. Secret Service agents responded to a report of a rifle near the property line and engaged the individual, who later fled the scene.

• The individual, identified as 58-year-old Ryan Wesley Routh, was arrested and made his first appearance in federal court on Monday.
• Trump was transported to a secure location following the incident, and he later posted on Truth Social expressing gratitude for well wishes.

Stock Performance Following Assassination Attempts

This was the second assassination attempt against Trump in recent months. The first occurred at a campaign rally in Butler, Pennsylvania, in July.

• Shares of Trump Media surged on the first day of trading after the Butler shooting, closing up more than 30% on July 15.
• However, the stock has since declined significantly, down about 57% since its most-recent high in July.

Trump's Stake in Trump Media

Trump has been barred from selling his 57% stake in Trump Media, but those restrictions are set to expire on Thursday. He has publicly stated that he will not be selling his shares.

• The stock surged as much as 25% following Trump's announcement on Friday that he would not sell his stake.
• Trading activity for Trump Media was briefly halted twice due to volatility following the announcement.

Trump Media's Stock Performance and the Presidential Election

Trump Media's stock performance often reflects Trump's political fortunes. Shares experienced a drop after the first presidential debate between Trump and his Democratic opponent, Vice President Kamala Harris, which many political analysts believe Harris won.

• Shares of Trump Media have fallen 74% since their public trading debut on the Nasdaq in March.
• The stock's recent performance suggests that investors are not optimistic about Trump's chances in the upcoming election.

Truth Social's Struggles

Trump Media's flagship product, the social media app Truth Social, has struggled to gain traction since its launch. The app has been criticized for its poor performance, its lack of user engagement, and its limited features.

• Despite Trump's significant following, Truth Social has failed to attract a large user base.
• The app faces stiff competition from established social media platforms like Twitter and Facebook, which have much larger user bases and more advanced features.