The share price of Trump media fell greater than 17% on Wednesday morning, a day after majority shareholder Donald Trump appeared against Vice President Kamala Harris in a widely criticized presidential debate.
The company's share price was at its lowest intraday level on the opening bell for the reason that Truth social app owner began public trading on the Nasdaq as DJT in late March.
Investing in Trump Media stocks is commonly seen as a strategy to bet on the political fate of Trump, the previous president and current Republican candidate.
Trump Media has said its business depends a minimum of partially on Trump's popularity, and analysts expect the corporate's value to rise or fall with Trump's electoral prospects.
Trump Media (DJT) share price
Wednesday's drop in stock prices could possibly be an indication that some Trump supporters usually are not blissful with what they experienced at Tuesday night's debate in Philadelphia.
Liberals and conservative Political commentators said Harris appeared more prepared, articulate and poised than Trump, who repeatedly took the bait she threw at him to attempt to distract him from the difficulty.
Harris' team exuded confidence and challenged Trump to a different debate immediately after the top of the primary one.
Trump said he won’t conform to that.
Trump Media shares rose as much as 10% in trading on Tuesday, possibly indicating optimism about Trump's performance in the talk.
The company's gains on Monday and Tuesday were a respite from a weeks-long slide that saw its stock price fall as much as 75 percent from its day by day high in late March, when the then-privately held Trump Media merged with a blank-check company.
This decline coincided with the withdrawal of US President Joe Biden from the presidential race, supporting Harris as his successor at the highest of the Democratic candidate list.
In addition, the transaction took place shortly before the date on which Trump and other company insiders can begin selling their shares.
Trump owns nearly 59 percent of the corporate's shares, which were price nearly $1.8 billion at Wednesday morning's price.
It is unclear whether Trump plans to start selling his shares when a lock-up period ends on September 19.
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