DJT goes after Trump, Elon Musk returns to Butler

Actions of Trump Media rose on Monday, a day after former President Donald Trump returned to Butler, Pennsylvania, the site of his July 13 assassination attempt, to meet with Tesla CEO Elon Musk.

Shares were up about 15% as of 12:30 PM ET on heavy volume, and shares were trading around $19.00 per share.

In Butler on Sunday, Musk took the stage midway through Trump’s 90-minute speech to praise the Republican presidential nominee and call himself “not just MAGA,” but “Dark MAGA.”

“This is no ordinary election,” Musk said. “President Trump must win to preserve the Constitution. He must win to preserve democracy in America.”

The billionaire entrepreneur first publicly endorsed Trump for president in the hours after the failed July 13 assassination attempt. Musk has been a key supporter of the Trump campaign since then.

Musk also created a pro-Trump political action committee, America PAC, which was investigated earlier this year after complaints about voter data. The wells have since been closed with no further action taken against PAC.

Trump, for his part, said he would create a commission on government efficiency, proposed by Musk, if elected president, to audit and reduce waste across the federal government. Trump also suggested he would tap Musk to lead the commission.

In previous regulatory filings, Trump Media said the success of its flagship product, Truth Social, depends on Trump’s popularity and continued use of the platform. Trump owns nearly 57% of the company’s shares.

Shares of Trump Media have been on a general downtrend since a rally after Trump’s first assassination attempt in July. The stock hit a new 52-week low on September 23 and has since recovered steadily, despite recent reports of turmoil within the company.

Trump Media disclosed in a regulatory filing Thursday that chief operating officer Andrew Northwall resigned at the end of September.

In the same filing, the company announced it would release nearly 800,000 shares of its stock to an early investor under the order of a Delaware judge who found Trump Media breached an agreement with that investor.