New York CNN — Three stocks with ties to former President Donald Trump surged Friday after two sources familiar with the case told CNN that Trump faces 30 counts related to business fraud in an indictment from a Manhattan grand jury.
It’s not clear why investors sent shares of those companies soaring Friday, although the stocks tend to swing wildly — surging and plummeting — when Trump makes news.
Shares of Digital World Acquisition Corp., the blank-check firm seeking to merge with Trump’s media venture, rose 10% Friday. Phunware (PHUN), the company that developed the Trump campaign’s mobile app for the 2020 presidential race, gained 3%. And Rumble (RMBL), a conservative video platform that partners with Trump’s Truth Social app, also rose 3%.
The stocks have moved significantly before when Trump has been…
2023-03-31 08:40:52
Original from www.cnn.com