Stock of DJT Soars, Plunges Following Initial Presidential Debate Featuring Trump and Biden

In the world of finance, the stock market can be a roller coaster ride, with ups and downs that can be influenced by a variety of factors. One recent example of this is the Trump Media & Technology Group (DJT) stock, which saw a significant spike before plummeting double digits following the first presidential debate of 2024 between former President Donald Trump and current President Joe Biden.

After the debate, shares of DJT, the parent company of Trump’s social media platform, Truth Social, fell about 12% in late afternoon trading. Debate experts noted Biden’s uneasy performance, which included a raspy voice and moments of confusion, raising concerns about his ability to lead the country at 81 years old. This raised speculation that Trump could have an advantage in the upcoming election.

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However, the journey of DJT’s stock has been anything but smooth. The company went public on the Nasdaq after merging with Digital World Acquisition Corp, but shares have since experienced fluctuations, falling approximately 44% since its debut in March. Despite this, Trump still maintains a stake of around 60% in DJT, with a market cap of roughly $4.3 billion.

It’s important to note that Trump founded Truth Social after being banned from major social media platforms like Facebook and Twitter, which played a role in the company’s origins. Financially, Trump Media reported sales of just over $4 million with net losses nearing $60 million for the full year ending Dec. 31. Additionally, the first quarter results showed losses of $327 million, largely attributed to expenses related to the SPAC deal.

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Despite these challenges, shareholder interest remains high, with over 621,000 different shareholders owning stock in Trump Media. This includes a significant number of retail investors, indicating a broad base of interest in the company.

As the story continues to develop, it will be interesting to see how DJT’s stock performs in the weeks and months ahead. For the latest insights and analysis on earnings reports, business news, and more, stay tuned to Extreme Investor Network for all your finance updates.