Shares in Trump Media & Technology Group were 50% higher in premarket trading on Monday July 15 at 6:29 a.m. ET, off earlier highs.
Trump Media, the parent company of social media platform Truth Social, has seen volatile trading throughout the election race.
The shares surged following the attempted assassination of former President Donald Trump at a rally in Pennsylvania on Saturday.
Trump was hit by a bullet and treated at a local hospital, but released late Saturday after the shooting.
Meanwhile, Trump Media CEO Devin Nunes offered his “deepest sympathies” to those who were wounded in the attack in Pennsylvania and to the family of the person killed at the event.
“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,” Nunes said in a Saturday statement.
“I also call for the federal government to provide any security resources requested by President Trump to guarantee his safety,” he added.
Analysts have proposed that, the assassination attempt could make a Trump win in the November election more probable.
The stock plummeted nearly 50% in the three weeks following the felony conviction of Trump, who is also the firm’s majority shareholder.
It comes as Truth Social struggles to grow its small user base.
In its first-quarter profit report, documented in May 2024, Trump Media posted an overal deficit of $327.6 million and all out revenue of $770,500.
The company warned investors last month that if Trump uses other social media platforms beyond Truth Social, it “could have a material adverse effect on the business and/or operations of TMTG.”
