Trump Media & Technology Group’s stock soared on Monday after the attempted assassination of former President Donald Trump.

Shares in Trump Media, Truth Social’s parent company, spiked by more than 30% after trading began Monday morning. The stock is now valued at around $40 per share — up from $30.88 on Friday, the day before Trump was shot at a Pennsylvania rally.

The former president is the company’s largest shareholder, with 114.75 million shares valued at more than $4 billion.

Trump Media’s stock has been volatile since its debut, with the value of shares dropping dramatically after Trump’s conviction on felony charges in May and swinging after the former president’s debate with President Joe Biden last month.

It is often described as a “meme stock,” with shareholders trading based on hype rather than the company’s fundamental value.

“DJT is effectively the Trump election win proxy,” Matthew Tuttle, the CEO of Tuttle Capital Management, told CNN last month.

A campaign spokesperson said that Trump was “fine” after the shooting on Saturday. His son, Donald Trump Jr., said he was “in great spirits.”

One spectator was killed and two were critically injured in the shooting.

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The former president is set to accept his party’s nomination at the Republican National Convention in Milwaukee this week.

“In this moment, it is more important than ever that we stand United, and show our True Character as Americans, remaining Strong and Determined, and not allowing Evil to Win,” he wrote in a post on Truth Social on Sunday. “I truly love our Country, and love you all, and look forward to speaking to our Great Nation this week from Wisconsin.”