© Reuters What does the market expect from the collective movement of “Trump stocks” on the eve of the mid-term elections?
Financial Associated Press, November 8 (Publisher Shi Zhengcheng)On Monday, US local time, as the mid-term elections entered the final 24-hour countdown, the US stock market took the lead in ushering in a wave of speculation on the subject, and the protagonist was no doubt former President Trump who was active in the election.
As of press time, the biggest gainer was DWAC, a special purpose acquisition company that is looking for a reverse takeover listing with Trump’s social media platform Truth Social, over 20%.
In addition to DWAC, Phunware (PHUN), a big data analytics company known as “Cambridge Analytica 2.0”, grew nearly 20% over the course of the day. This company used to develop campaign applications for the Trump team in the presidential elections of 2020. ; Another artificial intelligence solutions company, Remark Holdings, also saw an increase of nearly 10%, but although this company has always been listed as a Trump concept stock, only a number of Trump-owned hotels are been certified by Sharecare. , while Remark Holdings holds a partial stake in Sharecare.
Undoubtedly, the large intraday movements of these stocks were entirely driven by news from outside the market, which also reflected a key word in this week’s mid-term election: Trump.
After the elections to grab the “first credit”?
According to several media outlets, if the mid-term election results are in favor of the Republican Party, Trump’s campaign team will officially announce its participation in the 2024 presidential election in November.
Trump has always maintained an ambiguous attitude towards the announcement of his candidacy, but his remarks have also continually triggered media reveries. Recently, in last week’s campaign, Trump hinted that he would “Very, very, very likely I’ll do it againand it means “After winning in the House and Senate this year, we will take back the White House in 2024“。
Trump’s return to the political spotlight appears to have sent DWAC shares up amid expectations of increased users for the former president’s controversial social media platform, said Susannah Streeter, analyst at financial services firm Hargreaves Lansdown.
This year’s mid-term elections involve the position of 435 seats in the House of Representatives and 35 in the Senate, another 36 states will hold government elections and 46 states will hold state legislative elections. While there appear to be hundreds of contests, there aren’t many clashes that can really determine the future direction of American politics, and Trump is naturally among them.The outcome of these key battles will also become the spade for Trump’s return。
Preliminary polls show Trump-backed TV star Dr. Oz (Pennsylvania Senate nominee), football player Herschel Walker (Georgia Senate nominee) in a Senate race where every seat counts. ), “Hillman’s Elegy” author JD Vance (Ohio Senate nominee), venture capitalist Blake Masters (Arizona Senate nominee) and their respective Democratic rivals are in the fifth open state of the Five. These wins and losses are likely to determine ultimate ownership of the US Senate, as are Trump’s considerations of “going from behind the scenes to the front.”
