The share price of\u00a0Trump Media\u00a0plunged more than 10% on Wednesday, a day after majority shareholder\u00a0Donald Trump\u00a0gave a widely panned presidential\u00a0debate\u00a0performance against Vice President\u00a0Kamala Harris.<\/p>\n
The company\u2019s stock price closed at its lowest level since the\u00a0Truth Social\u00a0app owner began publicly trading as\u00a0DJT\u00a0on the\u00a0Nasdaq\u00a0in late March.<\/p>\n
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.<\/p>\n
Trump Media has said its business hinges at least partly on Trump\u2019s popularity, and analysts say the company\u2019s value will rise or fall based on his electoral prospects.<\/p>\n
The stock drop Wednesday could signal that some Trump\u2019s supporters were not pleased with what they saw at Tuesday night\u2019s debate in Philadelphia.<\/p>\n
Liberal and\u00a0conservative\u00a0political 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.<\/p>\n
Harris\u2019 team, projecting confidence, challenged Trump to another debate right after the first one ended.<\/p>\n
Trump said he may not agree to that. In a\u00a0Truth Social post\u00a0Wednesday, he repeated his claim that Harris only wanted another debate because she was \u201cbeaten badly.\u201d<\/p>\n
\u201cWhy would I do a Rematch?\u201d he wrote in the post.<\/p>\n
Trump Media had surged as much as 10% during trading Tuesday, possibly indicating optimism about how Trump would fare in the debate.<\/p>\n
The company\u2019s 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.<\/p>\n
The slump coincided with President\u00a0Joe Biden\u00a0dropping out of the presidential race and endorsing Harris to replace him at the top of the Democratic ticket.<\/p>\n
It also came in the run-up to the date when Trump and other company insiders can start selling their shares.<\/p>\n
Trump owns nearly 57% of the company\u2019s stock. That stake at Wednesday\u2019s closing price was worth about $1.9 billion.<\/p>\n
It is unclear if Trump plans to start selling off his stake when a lock-up agreement lifts on Sept. 19.<\/p>\n<\/p>\n
The share price of\u00a0Trump Media\u00a0plunged more than 10% on Wednesday, a day after majority shareholder\u00a0Donald Trump\u00a0gave a widely panned presidential\u00a0debate\u00a0performance against Vice President\u00a0Kamala Harris. The company\u2019s stock price closed at its lowest level since the\u00a0Truth Social\u00a0app owner began publicly trading as\u00a0DJT\u00a0on the\u00a0Nasdaq\u00a0in late March. Investing in Trump Media stock is often seen as a way […]<\/p>\n","protected":false},"author":0,"featured_media":9476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/9475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=9475"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/9475\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/9476"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=9475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=9475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=9475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}