Researcher Uncovers Bizarre Trading Volume Surge for Trump Media Before Assassination Attempt, but Data Conflicts
A popular researcher on the microblogging platform X (formerly known as Twitter) has recently revealed he found that there was an “extreme disparity” in the trading volume and the day high for shares of Trump Media & Technology Group (DJT) the day before the former President’s assassination attempt.
In a post shared with his over 120,000 followers on the platform Josh Walkos pointed out that on Thursday, July 11, the trading volume for the company’s stock was of 3,956,160 shares, while on Friday, July 12 – the day before r former U.S. President Donald Trump suffered an assassination attempt – volume exploded 801% to 35,643,508 shares.
Similarly, on July 11 the stock’s price hit a $30.31 high, while the next day it exploded to a whopping $15,638.32, based on data from the company’s website itself.
I may have found something potentially important.
Can someone please explain to me the extreme disparity between trade Volume and the Day High for Trump’s stock #DJT for Thursday, July 11th and Friday, July 12th (the day before the assassination attempt).
This is directly from… pic.twitter.com/6MYKUiDRd0
— Champagne Joshi (@JoshWalkos) July 17, 2024
Walkos suggested that the extreme price swing could be a mistake. Indeed, data from other platforms, including yahoo Finance, suggests that its high for the day was $31.55, with the day after seeing a jump to $46.27 before the shares started correcting.
Nevertheless, the researcher suggests the “extreme swing in volume should definitely warrant further investigation.” Yahoo Finance’s data, however, only suggests volume exploded after the assassination attempt, with July 15 seeing 80,789,400 shares being traded, up from 4,411,100 on July 12.
On July 13, Trump was shot in the ear at a rally in Pennsylvania in a failed assassination attempt that sparked global condemnation of political violence. The former President’s defiant reaction to the assassination attempt, which saw him stand up as secret service agents tried to protect him to yell “fight” into the crowd is believed to have galvanized support for his campaign.
Cryptocurrency prices rose after the attempted assassination, likely as Trump has increasingly embraced the industry during his campaign, vowing to support it last month via his social media platform Truth Social.
On prediction markets, Trump’s chance of being elected has shot up after the incident with his chances on Polymarket now standing at 62%, down from a 71% high after the assassination attempt, compared to just 6% for Biden, and 20% for Kamala Harris.
Featured image via Pixabay.