A tech stock with a name sounding like 'Trump's Big Win' surged by the maximum in China after the Pennsylvania assassination attempt
- Wisesoft stock surged 10% after former President Trump survived an assassination attempt.
- Wisesoft, known as a meme stock in China, often sees price jumps linked to Trump events.
A Chinese tech firm with a name that sounds like "Trump's Big Win" enjoyed a surge in its stock price on Monday after former President Donald Trump survived an assassination attempt in Pennsylvania.
Chuanda Zhisheng, also known by its English name Wisesoft, saw its share price rise from 10.20 CNY to 11.22 CNY, or $1.40 increasing to $1.55.
That's the maximum that the company's shares could have risen on Monday while trading on the Shenzhen Stock Exchange, which limits price changes to 10% per day.
Wisesoft has a meme stock reputation in China because its Mandarin name comes from Sichuan University, which is known colloquially as "Chuan Da."
Coincidentally, the Chinese nickname for Trump uses the same character as "Chuan," with "Da" translating to "big."
The second half of Wisesoft's name means "wise triumph," so the entire moniker can be taken to literally mean "Trump's Big Win" or "Trump's Great Victory."
Chinese financial news outlet Southern Finance Network reported that a company spokesperson said the reason for Monday's price jump for Wisesoft "couldn't be determined" as nothing had changed in its operations.
Its intended name is "Sichuan University Wise Victory." The company was founded in 2000 and specializes in using tech and AI for air traffic management.
The company also saw its share price leap by the maximum daily limit on June 28, the day after President Joe Biden's disastrous debate performance against Trump.
Pockets of Chinese retail investors are known to trade meme stocks simply because their names sound phonetically like references to real-world events. One stock, Goertek, saw its share price rise 2.2% on Monday because its name sounds like "cutting ears," The South China Morning Post reported.
Wisesoft also saw a one-day 10% share price jump in 2016, when Trump won the presidential election, despite the company suffering from lagging results, Chinese outlet The Global Times reported at the time.
The share price of another company, Yunnan Xiyi, simultaneously fell 10% in one day because it sounded phonetically similar to "Auntie Hillary," a nickname for then-presidential candidate Hillary Clinton.
Yunnan Xiyi has changed its name and is now known as Jianshe Industry Group Yunnan.
Trump was speaking on Saturday at a rally in Butler, Pennsylvania, when a gunman opened fire at him with an AR-style rifle. The former president's right ear was bleeding as Secret Service agents escorted him away, and he later said the ear was struck by a bullet.
One spectator in the crowd died, while two others were critically injured.
Trump is often the subject of memes on the Chinese internet, where users lampoon him as secretly working for Beijing to undermine the US and build up China. As a result, social media platforms in the country are often filled with posts jokingly expressing support for the former president.