Trump Media Shares Surge After Assassination Attempt
By Michelle Chapman
FILE - Republican presidential candidate former President Donald Trump reacts following an assassination attempt at a campaign event in Butler, Pa., on Saturday, July 13, 2024. Trump Media surged in the first day of trading, Monday, July 15, following the assassination attempt. (AP Photo/Gene J. Puskar, File)
Trump Media surged in the first day of trading following an assassination attempt on former President Donald Trump.
Also on Monday, a federal judge presiding over Trump's classified documents trial in Florida dismissed the case because of her concerns over the appointment of the special prosecutor who brought the case.
Shares in the owner of social networking site Truth Social soared more than 35% in early trading.
The U.S. Secret Service is investigating how a gunman armed with an AR-style rifle was able to get on a nearby roof and shoot and injure the former president at a rally Saturday in Pennsylvania.
The gunman, who officials said was killed by the Secret Service, fired multiple shots at the stage from an “elevated position outside of the rally venue,” the agency said. Trump was bloodied and says he was “shot with a bullet that pierced the upper part of my right ear.” A spectator was killed.
In the classified documents case, U.S. District Judge Aileen Cannon granted a defense motion to dismiss the case Monday, voiding a prosecution that at the time it was brought was seen as the most perilous of the multiple legal threats Trump faced.
The stock, which trades under the ticker symbol “DJT,” has been extraordinarily volatile since its debut in late March, joining the group of meme stocks that are prone to ricochet between highs and lows as small-pocketed investors attempt to catch an upward momentum swing at the right time.
Shares swung wildly both on the day after Biden's terrible debate performance, and a day after Trump’s conviction in his hush money trial.
A New York jury found Trump guilty of falsifying business records in a scheme to illegally influence the 2016 election through hush money payments to a porn actor who said the two had sex.
The stock frequently makes double-digit percentage moves either higher or lower in a single day. It peaked at nearly $80 in intraday trading on March 26. For context, the S&P 500 is up 18% year to date.
Trump Media reported in May that it lost more than $300 million last quarter, according to its first earnings report as a publicly traded company.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
