Shares of Truth Social-parent Trump Media & Technology (DJT) cratered Wednesday following Tuesday’s presidential debate between former President Donald Trump and Vice President Kamala Harris. That signals investor sentiment that Trump underperformed in the televised contest between the two candidates. DJT stock on Friday ended its 14% slide since the debate.
Pundit consensus gave the edge in the ABC-hosted presidential debate to Harris and the downward move by Trump stock DJT Wednesday appears to support that sentiment
The Donald Trump brand and the value of DJT stock are closely related, as Truth Social launched after then-Twitter shut down Trump’s account following the Jan. 6, 2021, riot at the U.S. Capitol.
The former president holds a 65% stake in Trump Media, worth several billion dollars based on the current stock price.
The company reported in August another quarter of sub-$1 million revenue. Meanwhile, Trump also made his return to X, formerly Twitter, on Aug. 12 with a conversation with Elon Musk. Prior To Wednesday action, DJT shares tumbled 25% since then as Trump has repeatedly posted on the social media site since then.
Since hitting that high on July 15, the Trump stock has fallen 61%.