- Wisesoft shares jump 10% after former President Trump survives assassination attempt.
- Wisesoft, known as a meme stock in China, has often seen its price spike in response to Trump events.
- Chinese retail investors traded Wisesoft shares as a joke, capitalizing on its Trump-related name.
A Chinese tech company 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 stock price rise from 10.20 CNY to 11.22 CNY, or $1.40 to $1.55.
That was the maximum gain the company’s shares had on Monday when trading on the Shenzhen Stock Exchange, which limits price changes to 10% per day.
Wisesoft has a reputation as a meme stock in China because its Mandarin name comes from Sichuan University, commonly known as “Chuan Da.”
Coincidentally, Trump’s nickname in Mandarin uses the same character as “Chuan,” while “Da” means “big.”
The second half of the name Wisesoft means “wise victory,” so the entire moniker can be literally translated as “Trump’s Big Win” or “Trump’s Big Win.”
Financial news outlet China Southern Finance Network reported that a company spokesman said the reason for Wisesoft’s price hike on Monday was “uncertain” because nothing had changed in its operations.
The intended name is “Sichuan University Wise Victory.” The company was founded in 2000 and specializes in using technology and AI for air traffic management.
The company also saw its stock price surge to its highest daily limit on June 28, the day after President Joe Biden’s poor performance in a debate against Trump.
Some Chinese retail investors have been known to trade meme stocks simply because their names sound like references to real-world events. One stock, Goertek, saw its share price surge 2.2% on Monday because its name sounds like “cutting off the ear,” South China Morning Post reports.
Wisesoft also saw its stock price surge by 10% in a single day in 2016, when Trump won the presidential election, although the company has had slow results, Chinese media 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 “Aunt Hillary,” the 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 Saturday at a rally in Butler, Pennsylvania, when a gunman opened fire on 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 bullet had hit him in the ear.
One spectator in the crowd died, while two others were seriously injured.
Trump has been a frequent subject of memes on the Chinese internet, with users mocking him for secretly working for Beijing to undermine the US and build up China. As a result, the country’s social media platforms are often filled with posts jokingly expressing support for the former president.
