As former President Donald Trump charges toward the Republican presidential nomination, a surge reminiscent of the meme-stock saga is unfolding in companies tied to the tycoon.
Stocks linked to Trump have experienced significant rallies following his victory in the Iowa primaries, with Phunware Inc. PHUN and Digital World Acquisition Corp. DWAC soaring by over 400% and 180%, respectively.
Similarly, PSQ Holdings Inc. PSQH, Rumble Inc. RUM and mortgage giants Fannie Mae FNMA and Freddie Mac FNMA have seen gains between 30% and 45% since the year’s start.
What do these stocks have in common with Trump?
The Trump Connection: Stocks on Steroids
- Phunware Inc.: The software company experienced a meteoric rise after developing a mobile app for Trump’s 2020 presidential campaign.
- Digital World Acquisition Corp.: This special purpose acquisition company (SPAC) has been making headlines for its planned merger with Trump Media & Technology Group.
- PSQ Holdings Inc.: An online marketplace known for attracting “freedom-loving Americans,” with Donald Trump Jr. as an investor.
- Rumble Inc.: A video-sharing platform that has formed a partnership with Truth Social, Trump’s social media venture.
- Fannie Mae and Freddie Mac: Both mortgage firms are anticipated to benefit under a second Trump presidency, especially with Trump’s interest in privatizing them.
Chart: Trump-Tied Stocks Surge in 2024
Read Now: 2 Stocks Surging on Donald Trump’s Presidential Bid
Photo via Shutterstock.
