Trump-Linked Stocks Take Off As He Seeks GOP Nomination For White House

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: A Closer Look At The Surging Stocks

• Phunware Inc.: Phunware is a software company known for developing a mobile app for Trump’s 2020 presidential campaign. The company has seen its stock skyrocket following Trump’s recent political advancements.
• Digital World Acquisition Corp.: A special purpose acquisition company (SPAC), DWAC has been in the spotlight for its planned merger with Trump Media & Technology Group. This union, however, has faced regulatory hurdles for over two years.
• PSQ Holdings Inc.: PSQ Holdings, an online marketplace championing “freedom-loving Americans,” boasts Donald Trump Jr. as an investor. The company, which reported $3 million in revenue in the first nine months of last year, gained attention when Trump Jr. participated in its NYSE opening bell ceremony last July.
• Rumble Inc.: Rumble is a video-sharing platform offering unrestricted content sharing, appealing particularly to conservative voices who have been banned on other platforms. Rumble also formed a technology and cloud-services 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. The two have been under government conservatorship since the 2008 financial crisis, and Trump has shown interest in privatizing these firms. Their stocks, currently trading over-the-counter at around $1 each, have garnered attention with the prospect of Trump’s return to office. Keefe, Bruyette & Woods analyst Bose George recently upgraded Fannie Mae and Freddie Mac from Underperform to Market Perform and said he sees the possibility of a close election as a reason for the near-term climb in the value of the stocks.

Chart: Price Performance Of Trump-Tied Stocks In 2024

Read now: 2 Stocks Surging on Donald Trump’s Presidential Bid

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