Following the attempted assassination of Donald Trump, shares of Trump Media (DJT) surged approximately 70% in premarket trading on the first trading day following the incident.
Interestingly, the incident was preceded by significant DJT-related stock market activity.
Austin Private Wealth, LLC, a Texas-based financial planning firm, purchased put options on 12 million shares of DJT just one day before the attack.
The move by Austin Private Wealth is notable for its timing and scale. It is the largest short position the company has ever taken, representing 6% of the total number of shares and more than 16% of DJT’s available shares.
This is significant even without taking the assassination into account, as it was initiated just days before the RNC, where his nomination was expected to boost DJT stock, especially given President Biden’s recent debate and interview performances.
The Republican National Committee (RNC) is the primary committee of the Republican Party of the United States.
Adding to the intrigue, Austin Private Wealth amended its filing on July 16, removing its put option on DJT. This amendment is rather odd and significant, as it is the only one the company has made.
According to the company’s statement, the put option filing for DJT, as well as their other recent trades, was erroneous because “a third-party provider applied a multiplier that increased the share count by 10,000 times for all option contracts, not just DJT.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.