Gunmaker Stocks Soar After Trump Rally Shooting

Semafor reports:

The attempted assassination of Donald Trump lifted his political fortunes — and his actual fortune. Shares of Donald Trump’s media company surged after the weekend’s assassination attempt, lifting Trump’s 60% stake in the company by nearly $800 million.

Stocks seen as winners in a second Trump administration also spiked: gun and bullet manufacturers, prison operators, cryptocurrency companies, and oil producers.

Each market has its own “Trump trade” on. Bond investors, figuring that Trump’s higher tariffs and tax cuts will hurt the economy and wreck the government’s finances, have been selling long-dated Treasury bonds.

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Trump Media, Gun Stocks Surge After Assassination Attempt — Crypto and gun stocks surge following an assassination attempt on Donald Trump, boosting market activity.https://t.co/38jlUIsy5p

— BizToc (@biztoc) July 16, 2024