Trump Stock "Sector" Climbs On TikTok Ban Buzz
Stocks tracked by moomoo as releated to Donald Trump climbed 9.12% Tuesday, the best performing "sector" in the U.S. as President Donald Trump commented on an upcoming TikTok ban facing a vote in Congress Wendesday. $Rumble(RUM.US$, a conservative video platform climbed 15%, $Remark Holdings(MARK.US$ climbed 9%, and $Digital World Acquisition Corp(DWAC.US$, a Trump Alligned SPAC that aims to merge with Truth Social climbed 1.43%.
Trump said Monday that TikTok was no longer his main target for an anti-China ban and that Facebook was an "enemy of the people" that would benefit from a TikTok ownership change. A bipartisan group of lawmakers moved a measure to ban the Chinese Byte Dance from owning TikTok after the video platform enabled users to call and message their representatives. The bipartisan deal would force the sale of TikTok.
Trump, a long-time anti-China politician, has said he wanted to ban TikTok but changed his tune this week. He spoke on CNBC's SquawkBox about how younger users—and voters—would"go crazy without it" if the app was eliminated.
$Phunware (PHUN.US)$ fell about 7%, after climbing following the Supreme Court's decision that states could not remove Trump from ballots.
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
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RDK79 : Guess it’s ‘weapons of mass destruction’ too…
MonkeyGee : if Trump wins RUM will be $40!
72734102 : We’re buying way more DWAC and more Phun if word leaks Trump using Phun to connect with voters Again!
RDK79 : TikTok makes $2.1 million TV ad buy as Senate reviews bill that could ban app
Should have been an RNC PAC Campaign donation instead.