Trump Media shares saw a huge leap of more than 25% Monday, two days after the shooting incident at the Pennsylvania rally, where the former president was hit by a bullet on his ear. Donald Trump is the majority shareholder of the company.
At 1:24 p.m. EDT, shares of the company were valued at $41.34 per share.
According to CNBC, the stock rose more than 33%. There was a significantly huge volume of DJT shares, with more than 17 million shares being traded before 10 a.m. ET.
In pre-market trading, shares rose 50% higher at around 6:29 a.m. ET. According to CNN, at one point, the shares climbed by 70%.
Trump stated that he was grazed by a bullet and was immediately treated in a Pennsylvania hospital. However, he was released immediately after the shooting.
Devin Nunes, CEO of Trump Media, offered his "deepest sympathies" to the victims of the attack in Pennsylvania, including the family who were killed in 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 Saturday.
He also called for the federal government to provide security that the former president was requesting to guarantee his safety.
According to analysts, the assassination attempt could help pave the way for a victory of Trump come November.
"The events on Saturday, if they do anything, they strengthen the case for President Donald Trump to win the election in November. I think that's what the markets have reacted to this evening," said Rob Casey, partner at Signum Global Advisor, on Squawk Box Europe.
Trump Media has gone through volatile trading throughout the election season. After Trump's conviction, stocks plummeted to almost 50%. Now, with the assassination attempt, shares are seeing a more positive activity.
In May, in the first-quarter earnings report, the company posted a net loss of $327.6 million, and a revenue of $770,500.
