Simple Money Goal
  • Economy
  • Editor’s Pick
  • Investing
  • Politics
  • Stock
  • Top News
  • Economy
  • Editor’s Pick
  • Investing
  • Politics
  • Stock
  • Top News
No Result
View All Result
Simple Money Goal
No Result
View All Result
Home Politics

Trump Media shares sink to new post-merger low after presidential debate

by
September 12, 2024
in Politics
0
Trump Media shares sink to new post-merger low after presidential debate

The share price of Trump Media plunged more than 10% on Wednesday, a day after majority shareholder Donald Trump gave a widely panned presidential debate performance against Vice President Kamala Harris.

The company’s stock price closed at its lowest level since the Truth Social app owner began publicly trading as DJT on the Nasdaq in late March.

Investing in Trump Media stock is often seen as a way to bet on the political fortunes of Trump, the former president and current Republican nominee.

Trump Media has said its business hinges at least partly on Trump’s popularity, and analysts say the company’s value will rise or fall based on his electoral prospects.

The stock drop Wednesday could signal that some Trump’s supporters were not pleased with what they saw at Tuesday night’s debate in Philadelphia.

Liberal and conservative political commentators said Harris appeared more prepared, articulate and even-keeled than Trump, who repeatedly bit on bait that she tossed to throw him off topic.

Harris’ team, projecting confidence, challenged Trump to another debate right after the first one ended.

Trump said he may not agree to that. In a Truth Social post Wednesday, he repeated his claim that Harris only wanted another debate because she was “beaten badly.”

“Why would I do a Rematch?” he wrote in the post.

Trump Media had surged as much as 10% during trading Tuesday, possibly indicating optimism about how Trump would fare in the debate.

The company’s gains on Monday and Tuesday were a respite from a weekslong rout that saw the stock price sink as much as 75% from its intraday high in late March, when then-privately held Trump Media merged with a blank-check firm.

The slump coincided with President Joe Biden dropping out of the presidential race and endorsing Harris to replace him at the top of the Democratic ticket.

It also came in the run-up to the date when Trump and other company insiders can start selling their shares.

Trump owns nearly 57% of the company’s stock. That stake at Wednesday’s closing price was worth about $1.9 billion.

It is unclear if Trump plans to start selling off his stake when a lock-up agreement lifts on Sept. 19.

This post appeared first on NBC NEWS
Previous Post

With early voting looming, turnout becomes the central question

Next Post

Trump’s time with Loomer, a far-right activist, upsets his GOP allies

Next Post
Trump’s time with Loomer, a far-right activist, upsets his GOP allies

Trump’s time with Loomer, a far-right activist, upsets his GOP allies

Subscribe to Simplemoneygoal.com

    Cracker Barrel shares plummet after pushback on new logo, brand refresh
    Politics

    Cracker Barrel shares plummet after pushback on new logo, brand refresh

    August 22, 2025
    Walmart boosts sales outlook as it says tariff costs are rising
    Politics

    Walmart boosts sales outlook as it says tariff costs are rising

    August 21, 2025
    How a ship that glides like a pelican could change travel and defense
    Politics

    How a ship that glides like a pelican could change travel and defense

    August 21, 2025
    Apple just landed a key win for the global encryption fight
    Politics

    Apple just landed a key win for the global encryption fight

    August 20, 2025
    • About us
    • Contacts
    • Email Whitelisting
    • Privacy Policy
    • Terms and Conditions

    Copyright © 2023 Daily Trading Digest. All Rights Reserved.

    No Result
    View All Result
    • Economy
    • Editor’s Pick
    • Investing
    • Politics
    • Stock
    • Top News

    Copyright © 2023 Daily Trading Digest. All Rights Reserved.