Trump Media's stock climbs after Supreme Court immunity ruling
** Shares of Trump Media & Technology Group DJT.O, majority owned by former President Donald Trump, rallying nearly 3% on Mon after a Supreme Court ruling that may favor his chances of winning the November presidential election
** U.S. Supreme Court found Trump cannot be prosecuted for official actions taken as president, but can for private acts
** With Trump's case sent back to lower courts for further review, Special Counsel Jack Smith likely does not have enough time to try him on federal election subversion charges and for a jury to reach a verdict before the election, which Trump is favored to win
** On PredictIt politics betting website, bets for a Trump win in November are selling for 58 cents with a $1 potential return, up 2 cents for the day. President Joe Biden sits at 31 cents
** DJT's stock has been popular with Trump supporters and retail investors viewing it as a proxy for Trump's potential re-election
** Stock market value of DJT, which owns social media app Truth Social, peaked at over $9 bln after its Wall Street debut in March and has since retreated to ~$6 bln
** DJT reported $770,500 in first-qtr rev. That is about the same as two U.S. Starbucks coffee shops, per Starbucks filing
PredicitIt shows growing chance of Trump presidency https://reut.rs/4bzJQ8w
Reporting by Noel Randewich
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