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shares Trump Media The stock continued to fall on Thursday, closing at a new low after its major shareholder, former President Donald Trump, and Democratic Vice President Kamala Harris held a presidential debate on Tuesday.
The stock fell 3.6% on the day to close at $16.07 per share, which was the company’s lowest closing price since it became publicly traded on Nasdaq in March.
Shares of the owner of Truth Social (ticker “DJT”) have fallen nearly 14% since Tuesday night’s debate hosted by ABC News in Philadelphia.
The Harris campaign called the debate a victory for Democrats, and pundits and pundits thought so too. strategist Political left and right. Trump has repeatedly claimed he won Tuesday’s standoff.
But the decline in Trump Media’s stock price – which tends to rise and fall in line with Trump’s political fortunes – suggests investors may not believe Trump won the debate.
The Republican candidate announced in a post on Truth Social on Thursday afternoon that he would not hold another debate.
Harris launched a second round challenge to Trump shortly after the candidate stepped down Tuesday night. But Trump declared victory on Thursday, wrote, “There will be no third debate!”
DJT’s plunge this week is the latest chapter in the stock’s months-long slide.
Since the failed assassination attempt on Trump in July, Trump Media’s stock price has fallen by about 60%. The company’s shares have fallen about 78% since it merged with a special purpose acquisition company in March and began trading publicly.
The former president owns nearly 57% of Trump Media’s stock. He will be given the opportunity to sell his shares later this month when “lockup” restrictions preventing him from doing so are lifted. It’s unclear whether Trump will choose to sell or hold onto his shares.
After Thursday’s close, the company’s market capitalization was $3.2 billion.
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