Trump Media fell more than 10% Friday after the first U.S. presidential debate, demonstrating another of the wild swings that have made its stock one of the more volatile on Wall Street. Shares in the owner of social networking site Truth Social jumped 5% at the opening bell and then sank through much of the day.
FILE - Pedestrians walk past a Nasdaq window displaying news on Trump Media on March 26, 2024, in New York. Republican presidential candidate former President Donald Trump speaks during a presidential debate hosted by CNN with President Joe Biden , Thursday, June 27, 2024, in Atlanta. FILE - Pedestrians walk past a Nasdaq window displaying news on Trump Media on March 26, 2024, in New York. FILE - Pedestrians walk past a Nasdaq window displaying news on Trump Media on March 26, 2024, in New York.
Shares in the owner of social networking site Truth Social jumped 5% at the opening bell and then sank through much of the day. The shares still finished the week with a gain of over 18%., who countered Biden’s criticism by leaning into falsehoods about the economy, illegal immigration and his role in the Jan. 6 insurrection.
In political futures markets, where investors can put money on the political fates of candidates, Biden’s odds of remaining the Democratic party’s nominee slid 29% after the debate. Citi analysts said Friday there may be increased interest in Trump Media & Technology based on news headlines following the debate.Biden and Trump go head to head: How to watch the first general election presidential debateof falsifying business records in a scheme to illegally influence the 2016 election through hush money payments to a porn actor who said the two had sex.
The stock frequently makes double-digit percentage moves either higher or lower in a single day. It peaked at nearly $80 in intraday trading on March 26. For context, the S&P 500 is up almost 10% year to date.
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