Trump Media stocks fall again after the debate

Former U.S. President Donald Trump’s difficult debate against his rival, Vice President Kamala Harris, at Philadelphia’s National Constitution Center on September 10, 2024, had many unexpected repercussions.

The evening ended well for Kamala Harris, with Taylor Swift announcing her support for Harris and Tim Walz in the election. On the other hand, the day after the debate was difficult for Trump, who received less cheerful news: shares in Trump Media (DJT) fell by over 17%, reaching an all-time low.

Trump Media Shares Plummet To Record-Low In Premarket Trading After Debatehttps://t.co/z0DXEPslle pic.twitter.com/btL70d8C3x

— Forbes (@Forbes) September 11, 2024

Many political analysts observed that Kamala Harris seemed more articulate and better prepared, while Trump appeared nonchalant in his preparation and made awkward remarks that probably displeased some voters. It seems that this perception had an immediate impact on Trump Media, his media company, whose performance was affected the very next morning.

After the debate, Trump’s shares hit their lowest level since the company was listed on the Nasdaq under the symbol DJT. This drop is particularly worrying for Trump, who often (and often wrongly) claims to have a positive influence on the financial market.

The fall in shares reflects investor skepticism about Trump’s viability as a candidate, following his performance.

A potential sign of change in investor confidence could be on the horizon, as DJT shares had recorded a slight rise of 10% on the eve of the debate. The drop could suggest that some investors and supporters of the former president were disappointed by his performance.

It’s important to note that Trump is on the verge of being able to sell his Trump Media shares, with the imposed lock-up expiring in a few days, on September 19.

This is likely to add further pressure on investors.