Trump Media shares lose 18% after Trump and Harris debate


09/12/2024

Trading data shows that the share price of Trump Media & Technology Group (TMTG), the company that owns Truth, the social network that Donald Trump founded, dropped 18.25% during its premarket low on the Nasdaq exchange. Later, the fall had slowed to 10.84%. The value of Trump Media shares at the end of trade on September 10 was $18.63 (+3.27%).



Gage Skidmore
Shares of Trump Media decreased following Trump's Republican presidential debate with Democratic opponent Kamala Harris. According to Reuters, she raised her prospects of beating Trump.

Harris attacked Trump mercilessly during the discussion, bringing up his support for abortion and many legal issues, forcing him to come up with a defense.

After the debate, traders are caving in on Trump winning the election, according to Bloomberg. Currency specialist ING Bank believes that the markets have already "awarded Harris the win" in the presidential contest. PredictIt, a betting website, increased the likelihood of Harris winning the race by 3% to 56%.

source: bloomberg.com