Trump media company shoots 20 percent higher on Wall Street after controversial New York rally

At a rally for Republican presidential candidate Donald Trump in New York, actor Tony Hinchcliffe made an offensive joke about Puerto Rico. That performance has already prompted a response from singer Ricky Martin, among others. Investors don’t seem to be bothered by that. Even more, Trump’s media company turns bright green on the stock market.

Key Takeaways

• Despite a racist joke by a comedian at last weekend’s Trump rally in New York, the shareholders of Trump Media & Technology Group seem convinced that the Republicans have their chances win increased.
• During the first trading day of the week, the media company rose about 20 percent.

In the news: Trump’s latest collection has once again sparked many reactions.

• The positive reaction in the stock market comes after the former president’s rally in New York last weekend. However, that meeting was not without discussion. For example, Hinchcliffe’s performance has caused a storm of criticism. The comedian once described Puerto Rico as a “floating island of garbage in the ocean.”
• That joke was not well received. Shortly after the gathering, several famous names from the Puerto Rican community, including Ricky Martin and Bad Bunny, supported Kamila Harris.

A hub for investors who follow Trump

Noted: Nevertheless, investors (who support Trump) react positively to the rally. At the time of this writing, Trump Media & Technology Group is up about 20 percent. A share is now changing hands for just over $45.

• Recent history has taught us that the stock market value of Trump’s media company responds strongly to what the Republican presidential candidate says and does. If shareholders are convinced that his chances of winning the White House have increased, they will increase the share price. It is, as it were, a kind of revolution for pro-Trump investors. According to analysts, they do not pay much attention to company products.
  • For example, Trump Media & Technology Group’s share price spiked shortly after Trump’s first assassination attempt in July has skyrocketed significantly. Investors were then convinced that the chance of the billionaire becoming president had increased significantly. At that time, current President Joe Biden was still the Democratic presidential candidate.
  • After the debate between Trump and the current Democratic presidential candidate Kamela Harris, Trump’s media company changed colors again red blood.

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