A Trump Bump? Stocks Linked to Former President on the Rise, Linked with Plans to Raise $1 Billion in Financing
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Out of sight may not equal out of mind when it comes to former President Donald Trump. Stocks linked to the ex-president are trading heavily as the Trump Media & Technology Group has announced its plan to raise upwards of $1 billion in new financing.
Even with Trump banned on several social media platforms, the platforms themselves were sparking additional trading of stocks connected to the former president. For example, the blank-check company created to bring Trump’s media and tech group to market, Digital World Acquisition Corp., saw its stock price rise more than 22 percent while a software group connected to the unsuccessful reelection campaign, Phunware Inc., grew by close to 25 percent.
This news and a loyal fan base continued to spark growth of other stocks linked to Trump and his ventures.