The share price of\u00a0Trump Media\u00a0plunged more than 10% on Wednesday, a day after majority shareholder\u00a0Donald Trump\u00a0gave a widely panned presidential\u00a0debate\u00a0performance against Vice President\u00a0Kamala Harris.<\/p>\n
The company\u2019s stock price closed at its lowest level since the\u00a0Truth Social\u00a0app owner began publicly trading as\u00a0DJT\u00a0on the\u00a0Nasdaq\u00a0in late March.<\/p>\n
Investing in Trump Media stock is often seen as a way to bet on the political fortunes of Trump, the former president and current Republican nominee.<\/p>\n
Trump Media has said its business hinges at least partly on Trump\u2019s popularity, and analysts say the company\u2019s value will rise or fall based on his electoral prospects.<\/p>\n
The stock drop Wednesday could signal that some Trump\u2019s supporters were not pleased with what they saw at Tuesday night\u2019s debate in Philadelphia.<\/p>\n
Liberal and\u00a0conservative\u00a0political commentators said Harris appeared more prepared, articulate and even-keeled than Trump, who repeatedly bit on bait that she tossed to throw him off topic.<\/p>\n
Harris\u2019 team, projecting confidence, challenged Trump to another debate right after the first one ended.<\/p>\n
Trump said he may not agree to that. In a\u00a0Truth Social post\u00a0Wednesday, he repeated his claim that Harris only wanted another debate because she was \u201cbeaten badly.\u201d<\/p>\n
\u201cWhy would I do a Rematch?\u201d he wrote in the post.<\/p>\n
Trump Media had surged as much as 10% during trading Tuesday, possibly indicating optimism about how Trump would fare in the debate.<\/p>\n
The company\u2019s gains on Monday and Tuesday were a respite from a weekslong rout that saw the stock price sink as much as 75% from its intraday high in late March, when then-privately held Trump Media merged with a blank-check firm.<\/p>\n
The slump coincided with President\u00a0Joe Biden\u00a0dropping out of the presidential race and endorsing Harris to replace him at the top of the Democratic ticket.<\/p>\n
It also came in the run-up to the date when Trump and other company insiders can start selling their shares.<\/p>\n
Trump owns nearly 57% of the company\u2019s stock. That stake at Wednesday\u2019s closing price was worth about $1.9 billion.<\/p>\n
It is unclear if Trump plans to start selling off his stake when a lock-up agreement lifts on Sept. 19.<\/p>\n<\/p>\n
The share price of\u00a0Trump Media\u00a0plunged more than 10% on Wednesday, a day after majority shareholder\u00a0Donald…<\/p>\n","protected":false},"author":0,"featured_media":4026,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/posts\/4025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/comments?post=4025"}],"version-history":[{"count":0,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/posts\/4025\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/media\/4026"}],"wp:attachment":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/media?parent=4025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/categories?post=4025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/tags?post=4025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}