Donald Trump Jr. claims Iowa victory boosting ‘patriot’ companies

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By Dan Sears

Stocks linked to Donald Trump have soared this week while Chinese markets have sunk — and the former president’s eldest son sees a connection to Iowa.

“It is no surprise that the Chinese stock market is crashing after Trump’s massive primary win in Iowa,” Donald Trump Jr. told On The Money. “At the same time, patriot stocks like PublicSq., Truth Social, and Rumble are surging.”

There was little question about the latter assertion following Trump’s lopsided victory on Monday evening.

Truth Social stock jumped more than 40%, to roughly $25 per share from approximately $17 per share. 

PublicSq. — a shopping site that aims to become the conservative alternative to Amazon — jumped 12% to $5.60 a share after the Iowa results. Rumble, which bills itself as a free speech alternative to YouTube, rose nearly 20% to almost $4 a share, even as the overall market dipped. 

All three stocks have since ebbed but remain ahead of last week’s levels.

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Donald Trump and Xi Jinping
Stocks linked to Trump have soared this week while Chinese markets have sunk, and the former president’s son thinks his Iowa victory is the cause. Paola Morrongiello

Meanwhile, the Chinese index CSI 300 fell to a near five-year-low while Hong Kong’s Hang Seng index was at its lowest level in two years earlier this week.

Analysts this week blamed the China rout on a combination of mounting debt, softening consumer demand and a shrinking workforce.

China said Wednesday its GDP grew 5.2% last year, but investors say the number was propped up by government spending. 

Donald Trump with sons Eric and Donald Trump Jr., right.
Donald Trump campaigns with Eric (left) and Donald Trump Jr.. Getty Images

According to Trump Jr., however, the real reason investors are fleeing China is because of the US election.

“Wall Street understands that Trump is coming back to the White House, and their DEI and CCP coziness is coming to an end,” Trump Jr. added.

Whatever the case with China, investors say the overall market is paying more attention to Trump stocks following Iowa.

“Trump’s success shows Wall Street there is a huge amount of momentum in this sector,” says Omeed Malik, the financier who took PublicSq. public via SPAC. “Wall Street wants a piece of this economy. We are at the top of the first inning for these stocks.” 

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Malik points to comments that JPMorgan CEO Jamie Dimon made Wednesday defending some of Trump’s policies at the elite World Economic Forum in Davos, Switzerland.

“He was kind of right about NATO, he was kind of right about immigration, he grew the economy quite well, tax reform worked, he was right about some of China,” Dimon said. 

As companies including BlackRock grow quieter about DEI and ESG, huge amounts of capital could flow into the pro-Trump “parallel economy,” Malik, who also helms a fund focused on investing in those very companies, predicts. Trump clinching the nomination will likely accelerate that — and make Wall Street eager to get a piece of it as well, he claims.

At the same time, Chinese stocks — those listed in the US and those traded in China — could be forced to take even more of a beating in a Trump presidency, according to Malik.

“Chinese companies that list on American exchanges will be hurt because they will finally be subject to the same requirements that American companies are,” Malik said. “Chinese stocks domestically will be hit as well because of heightened geopolitical tensions.”

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