Former US President Donald Trump speaks during the presidential debate with US President Joe Biden on June 27, 2024 in Atlanta, Georgia.
Brian Snyder | Reuters
The stock price is Trump Media Shares soared more than 11% in premarket trading Friday morning after major shareholder Donald Trump benefited from President Joe Biden’s stumble in the first presidential debate.
Trump Media, which trades under the symbol DJT, closed down 6.42% on Thursday afternoon at $36.73 per share. But early Friday, the owner of the Truth Social app was trading above $40 a share, with more than 3 million shares trading volume as the stock gave back some of its early gains.
Former President Trump, the presumptive Republican nominee, owns nearly 65% of Trump Media. Despite its meager revenue, the company had a market capitalization of about $6.5 billion as of Friday.
Political observers and Democratic donors said the 81-year-old Biden performed poorly during a debate with Trump on Thursday night at a CNN studio in Atlanta. Biden’s speech was vague at times. He also lost his train of thought, his face blank and his mouth sometimes hanging open as Trump spoke.
A major Democratic fundraiser told CNBC that Biden’s performance was a “disaster.”
“This is terrible. Worse than I thought. Everyone I talk to thinks Biden should quit,” the donor said.
US President Biden attends the presidential debate with former President Trump on June 27, 2024 in Atlanta, Georgia.
Brian Snyder | Reuters
This is developing news. Please check back for updates.
About The Author
