Trump Media Stock Price Soars After Biden Debate Debacle
Money | June 28, 2024, 3:34 p.m.
Following a disastrous presidential debate for current President Joe Biden, the stock price for former President Donald Trump’s media company, which includes Truth Social, surged by 5 percent when the market opened, according to Quartz. The company's stock, DJT, had also seen a premarket rise of 15 percent. Although the gains did not hold and the stock dropped by 6 percent later in the day, the success of Trump's media company appears linked to his political fortunes.
Trump was viewed as the winner of the debate by 67 percent of respondents, although he made numerous false claims. Meanwhile, Biden struggled with coherence, looking tired and incoherent. Democratic Party insiders are reportedly concerned about Biden's performance, with some suggesting he drop out or be replaced on the ticket. Despite the poor debate showing, Biden appeared more energetic during a subsequent speech in North Carolina.