Trump Media Stock Rises Over 10% After Debate

Shares of Trump Media & Technology Group experienced a significant surge in pre-market trading on Friday morning, climbing over 10% at times. This uptick followed a highly anticipated debate between former President Donald Trump and President Joe Biden. Analysts and political commentators have widely critiqued President Biden’s performance during the debate, leading to a boost in Trump Media’s stock.

The stock, trading under the ticker symbol $DJT, was up 9.72% to $40.30 as of 8:59 a.m. EDT. At its peak during pre-market trading, the stock had risen by as much as 13%. The debate, which took place on Thursday night, marked the first major face-off of the 2024 presidential election. During the debate, Trump and Biden exchanged sharp criticisms on a range of issues including the economy, abortion rights, and immigration policy. Biden’s perceived weak performance has fueled speculation and calls for him to consider withdrawing from the presidential race.

As of Friday morning, estimates place Donald Trump’s net worth at approximately $6.1 billion. Trump holds a significant stake in Trump Media & Technology Group, with ownership of about 65% of the company. The debate’s impact on the stock price underscores the influence of political events on market sentiment and investor behavior.

Trump Media & Technology Group made its public debut in late March through a reverse merger with Digital World Acquisition Corp., nearly two years after the initial merger announcement. The company’s stock had generally performed well since the merger, though it faced a notable decline following Trump’s historic conviction on 34 felony counts of falsifying business records. At its lowest, the stock fell nearly 20%, hitting a low of $26.75 on June 20. However, there has been a substantial recovery in recent weeks, with the stock rebounding 36% as of Thursday.

The debate’s effect on Trump Media’s stock reflects broader market dynamics, where political events can significantly influence investor confidence and stock performance. The surge in Trump Media’s shares suggests that market participants are reacting favorably to the perceived political momentum following the debate. This shift highlights the interconnectedness of political developments and financial markets, particularly in the context of high-profile political figures and their associated businesses.

Investors and analysts will likely continue to monitor the performance of Trump Media & Technology Group closely, especially in light of upcoming political events and debates. The stock’s reaction to these events could provide further insights into the market’s perception of political influence on business valuations.

As the 2024 election campaign progresses, the performance of Trump Media’s stock will be closely watched as an indicator of both political sentiment and investor confidence. The debate has set the stage for a potentially volatile political season, with significant implications for both the candidates and the companies associated with them.