Former U.S. President and Republican presidential candidate Donald Trump leaves during a commercial break and U.S. Vice President and Democratic presidential candidate Kamala Harris during the presidential debate at the National Constitution Center in Philadelphia, Pennsylvania, September 10, 2024 Take notes.
Saul Loeb | AFP | Getty Images
The stock price is Trump Media The company’s shares tumbled more than 14% before trading opened on Wednesday, a day after major shareholder Donald Trump made widely-received remarks during a presidential debate with Vice President Kamala Harris. Critical performance.
Investing in shares of the social maker of truth has been viewed as a way to bet on the political fortunes of Republican presidential candidate Donald Trump.
The company acknowledges that its success depends at least in part on Trump’s popularity, and analysts say its value will rise or fall based on Trump’s electoral prospects.
The sharp decline in stocks after the debate may be a sign that some of Trump’s supporters weren’t happy with what they saw Tuesday night.
both free and conservative Political commentators said Harris appeared more prepared, articulate and calm on stage in Philadelphia than Trump, who repeatedly took the bait she lobbed to get him off topic.
Harris’ team showed confidence by challenging Trump to another debate immediately after the first debate.
Trump said he might not agree to another.
Shares of Trump Media (DJT), which trades on the Nasdaq, surged 10% in intraday trading on Tuesday, a possible sign of optimism about Trump’s performance in the debate.
Gains on Monday and Tuesday helped the company snap out of a week-long slump that has seen its shares fall 75% from their intraday highs in late March when Trump Media merged with a blank-check company.
The recession coincided with President Joe Biden dropping out of the presidential race and endorsing Harris to replace him as the Democratic nominee.
It also comes ahead of the date when Trump and other company insiders can start selling stock.
Trump owns nearly 59% of the company’s stock, a stake worth nearly $2 billion based on Wednesday’s pre-market prices.
It is unclear whether Trump plans to start selling his shares after the lock-up agreement is lifted on September 19.
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