DJT Stock Falls 4% After Apparent Second Assassination Attempt on Trump

Dow Jones09-16

Trump Media stock fell 4% after Republican presidential candidate Donald Trump was the apparent target of another assassination attempt in West Palm Beach, Fla., on Sunday afternoon. Trump wasn’t hurt.

Secret Service agents had opened fire on a gunman just 400 yards away from the ex-president after having seen a rifle pointing at him through a fence at a golf course, law-enforcement officials said, according to The Wall Street Journal.

The alleged gunman fled the scene but was later detained, Palm Beach County Sheriff Ric Bradshaw said at a press conference late Sunday. The Federal Bureau of Investigation said it was treating the incident as an assassination attempt.

Trump was the target of another assassination attempt during a Pennsylvania rally on July 13 after which DJT stock soared.

DJT stock tends to trade more as a proxy for the market’s bet for a second Trump administration, and less on fundamentals such as earnings and conventional valuation metrics such as price-to-earnings ratios.

An ABC News/Ipsos poll released Sunday showed that Democratic candidate Vice President Kamala Harris was broadly seen as the debate winner at last week’s presidential debate. The poll shows 58% of Americans said Harris won the debate, a reversal from the Biden-Trump debate in June which Trump was seen as winning by 66%.

The poll also suggested that the debate didn’t change many people’s minds about who they would vote for. It showed 52% of likely voters would choose Harris for president, and 48% backing Trump.

Shares in the Truth Social parent company plunged to record lows after the contest a week ago but bounced back Friday after Trump said he would not sell shares once his lock up agreement after the deal with special-purpose vehicle Digital World Acquisition Corp. expires on Sept. 20.

Concerns that Trump would sell shares have weighed on the stock price lately.

According to the agreement, Trump will be allowed to begin selling his 57% stake in the company if the share price remains above $12 for any 20 trading days following the 150 days after the closing of the DWAC deal.

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