Stock Market Reacts to Presidential Debate: DJT Stock Soars and Plummets
Money | June 28, 2024, 2:24 p.m.
Trump Media & Technology Group (DJT) stock initially surged before plunging double digits following a presidential debate between Donald Trump and Joe Biden. Biden's lackluster performance has raised concerns about his ability to lead, potentially boosting Trump's chances in the upcoming election. Shares of Truth Social's parent company, DJT, have been volatile, with recent losses attributed to Trump's legal troubles and mounting expenses. Despite reporting millions in sales, the company faced significant losses, prompting doubts about its profitability. Trump remains the majority stakeholder in DJT, with his current stake valued at billions. With a lockup period prohibiting share transfers, investors are closely monitoring the company's performance. The unpredictable nature of Trump's media venture underscores the risks associated with investing in his brand.