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Trump Media & Technology Group Corp (NASDAQ:DJT) shares are trading lower by 12% to $16.38 this week as traders continue to assess Tuesday’s ABC 2024 Presidential Debate.
On Thursday, Donald Trump posted on Truth Social saying there will not be another debate with Vice President Kamala Harris.
What Happened: In the highly anticipated first presidential debate, the vice president emerged as the clear winner over former President Trump, according to a CNN flash poll conducted among debate watchers. Harris secured a resounding 63% of the votes, while Trump garnered just 37%.
The debate, which aired on ABC News, sparked a significant reaction, especially given Trump's previously strong debate performances in 2020 and 2016.
Despite ongoing criticisms of media bias, particularly toward Disney-owned ABC, the debate's outcome has shifted public perception. Harris made significant inroads with independent voters, with her favorability rising by six points to 45%, per said. Conversely, Trump's favorability fell by two points, resting at 39%.
Why DJT Stock Fell Sharply: This week’s sharp decline in Trump Media & Technology Group Corp stock could be attributed to multiple factors linked to this debate outcome. First, Harris's strong debate performance and the resulting shift in public opinion, especially among independent voters, signal rising political uncertainty for Trump.
Investors may view this as a threat to Trump's political influence and policies, which are often perceived as pro-business. If Trump appears weaker in the race, the market might anticipate less favorable outcomes for corporations and economic policies tied to his platform, leading to a sell-off.
Moreover, the decline in Trump's favorability ratings and the fact that Harris is seen as making inroads in key voter segments could raise concerns about his ability to win the election. As a result, market confidence in Trump-related assets may erode.
According to data from Benzinga Pro, DJT has a 52-week high of $79.38 and a 52-week low of $16.06.
Read Also:
• Nancy Pelosi Says Trump Lost To Kamala Harris And ‘That’s Why He Doesn’t Want To Debate Again’
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Posted In: DJT
