Trump-Themed Stocks Rally as Wall Street Bets on Potential Win

Oct 23, 2024

Trump-themed stocks showed continued strength with Phunware (PHUN, Financial) rising nearly 18%, Rumble (RUM) gaining close to 6%, and Trump Media & Technology Group (DJT) climbing over 5%. This movement is driven by Wall Street's ongoing expectation of a "Trump trade" as suggested by Goldman Sachs FICC Vice President Vincent Mistretta. He noted that market positioning has already favored a Trump win even before recent increases in his winning odds.

Goldman Sachs forex trading analysts, Mark Salib and Fernando Alvarado Aguilar, observed that various clients, including hedge funds, are purchasing stocks in anticipation of a potential Trump victory.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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