WASHINGTON — Las Actions of Trump Media, owner of the social network Truth Socialrose 5% at the start of trading on Friday after the first debate presidential nominee in the United States, and some investors believe he could become a bigger spokesman for the former president if he is re-elected.
President Joe Biden and former President Donald Trump clashed Thursday night over issues including abortion, immigration and the Jan. 6, 2021, insurrection at the U.S. Capitol.
Biden’s performance was considered disastrous. Thursday night’s showdown with Trump was meant to be an opportunity for Biden, 81, to dispel doubts about his advanced age and fitness for office, and to publicly portray his rival as an “existential threat” to the American democracy, the campaign argument used by the Democrats.
But his speech was hesitant. On several occasions he got stuck and seemed to lose track of his ideas. As a result, some Democrats are considering behind the scenes whether he should remain the party’s candidate, which he has until August to decide..
Biden was seen on screen staring, mouth open, as Trump, 78, spoke.
Investors
In political futures markets, where investors can bet on the political fate of candidates, the odds that Biden will remain the Democratic Party’s nominee fell 29% after the debate.
Citi analysts said Friday there could be increased interest in Trump Media & Technology based on headlines following the debate.
Shares of Trump Media & Technology have been rocked during Trump’s presidential race, swinging wildly a day after Trump’s conviction in his trial over payments in exchange for preventing the release of damaging news.
A New York jury found Trump guilty of falsifying business records in a scheme to illegally influence the 2016 election through hush money payments to a porn actress who said the two had sex.
The stock, which trades under the symbol “DJT,” has been extraordinarily volatile since its debut in late March, joining the group of meme stocks that are prone to bouncing from highs to lows as small-pocket investors try to catch a turnaround. bullish momentum at the right time.
This year, the stock has tripled in value, with double-digit percentage moves up or down in a single day. It hit an intraday high of nearly $80 on March 26. The S&P 500 index is up nearly 10% so far this year.
Trump Media & Technology reported in May that it lost more than $300 million last quarter, according to its first earnings report as a publicly traded company.
Source: With information from AP
