- WiseSoft shares rose 10% after former President Trump survived the assassination attempt.
- WiseSoft, known as a meme stock in China, often sees spikes in its shares tied to Trump events.
- Chinese retail investors are trading WiseSoft shares as a joke, taking advantage of the company’s Trump-related name.
A Chinese tech company with a name that sounds like a “Big Trump Victory” saw its shares soar on Monday after former President Donald Trump survived an assassination attempt in Pennsylvania.
Shares in Chuanda Zhisheng, also known by its English name Wisesoft, rose to RMB11.22 from RMB10.20, and to $1.55 from $1.40.
That was the most the company’s shares could have risen to when trading on Monday on the Shenzhen Stock Exchange, which limits daily price fluctuations to 10 percent.
Wisesoft is famous as a meme brand in China as its Chinese name comes from Sichuan University, colloquially known as “Chuan Da.”
Coincidentally, Trump’s Chinese nickname uses the same character, “Chuan,” with “Da” translated as “big.”
The second part of Wisesoft’s name means “wise victory,” and the whole name can be literally interpreted as “Trump’s big win” or “Trump’s big win.”
Chinese financial news outlet Southern Financial Network quoted a WiseSoft spokesman as saying the reason for Monday’s share price surge “cannot be determined” as there have been no changes to the company’s business.
The company, planned to be named “Sichuan University Wise Win”, was founded in 2000 and specializes in the application of technology and AI in air traffic management.
The company’s shares also soared to their daily limit on June 28, the day after President Joe Biden’s disastrous debate defeat against President Trump.
Some Chinese retail investors buy and sell meme stocks simply because they sound like real-world events. One stock, Gore-Tec, rose 2.2% on Monday because its name sounds like “cutting an ear.” The South China Morning Post reported.
WiseSoft’s shares rose 10% in one day after Trump’s victory in 2016, despite the company’s sluggish performance, Chinese media Global Times reported at the time.
At the same time, shares in another company, Yunnan Xiyi, fell 10% in one day because its name was pronounced similarly to then-presidential candidate Hillary Clinton’s nickname, “Auntie Hillary.”
Yunnan Kiyi changed its name and is now known as Yunnan Jianshe Industrial Group.
Trump was speaking at a rally in Butler, Pennsylvania, on Saturday when a gunman opened fire on him with an AR-type rifle. The former president’s right ear was bleeding when Secret Service agents took him away, and he later said he was hit by a bullet in his ear.
One spectator in the crowd was killed and two others were seriously injured.
On the Chinese internet, Trump has often been the subject of memes, with users mocking him for secretly working for Beijing to weaken the U.S. and strengthen China. As a result, Chinese social media platforms have been flooded with posts playfully expressing support for the former president.
