STORY: Crypto stocks, prison operators and other shares that could benefit from a Donald Trump presidency jumped on Monday, as an assassination attempt on the Republican candidate boosted odds of an election victory in November.
Trump Media & Technology Group, owner of the former president's Truth Social platform, soared 35%. Trump owns a majority stake in the company, worth about $3.8 billion as of late June, according to LSEG data.
The stock has surged 75% this year, driven by retail traders betting Trump will win the rematch against his Democratic rival, President Joe Biden.
Online betting site PredictIt showed bets of an election win for Trump at 67 cents, up from Friday's 60 cents, with Joe Biden at 27 cents.
Also getting a boost: crypto stocks, tracking bitcoin's jump to a two-week high, as Trump has presented himself as a champion of cryptocurrency. Crypto exchange Coinbase Global, and bitcoin miners Riot Platforms and Marathon Digital all rose.
Gun makers and prison stocks jumped. Gun stocks such as Smith & Wesson Brands and Sturm Ruger & Company tend to rise after a mass shooting as calls for gun control can lead some people to buy more firearms, fearing their availability may become limited.
And prison operator stocks Geo Group and CoreCivic gained, as Trump has promised to crack down on illegal immigration, which could boost demand for detention centers.
On the downside, clean energy stocks such as Invesco Solar and iShares Global Clean Energy slipped as Trump has said he would reverse many of the Biden administration's signature climate policies, including tax incentives, if he wins the election.
All three of Wall Street's main indexes were up, with the Dow hitting a record intraday high, and long-dated bond yields also rose, in part on the assumption Trump's policies would add to inflation and debt.
