Trump Media shares closed up more than 30% Monday, two days after the attempted assassination of former President Donald Trump, the company’s majority shareholder.
The stock’s rise was accompanied by massive trading volume. More than 76 million shares of the Truth Social app owner changed hands Monday, ten times the stock’s 30-day average.
Trump, who was formally nominated as the Republican Party’s presidential candidate Monday, said he was grazed by a bullet and treated at a local hospital in Pennsylvania on Saturday but was released late Saturday after the shooting.
Shares in Trump Media were 50% higher in premarket trading at 6:29 a.m. ET, off earlier highs.
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 …