DJT stock price today: Truth Social parent Trump Media is having a post-debate hangover
Shares in Trump Media & Technology Group Corp. (NASDAQ:DJT) are down over 13% in premarket trading this morning at the time of this writing. The fall comes the morning after former president Donald Trump faced off against Vice President Kamala Harris in their first presidential debate last night. It was a debate where Harris was widely considered to have come away the winner. A CNN flash poll found that 63% of watchers said Harris performed better than Trump. After the debate, things got even worse for the former president when global superstar Taylor Swift announced her first-ever presidential endorsement—for Kamala Harris. Okay, but why is DJT stock falling? This brings us to today’s DJT sell-off. It’s unclear why investors are dumping DJT shares this morning. There has been no news about the fundamentals of the company. One possible reason for the share price fall is that Harris’s perceived victory over Trump in the debate last night may signal to investors that her chances of beating the former president have increased, which in turn would make his defeat more probable in November. A defeat for Trump would likely mean that his career in politics is over. If that’s the case, his followers could lose interest. A loss of interest in Trump could negatively affect the number of users of his Truth Social network, where he exclusively posts. Truth Social is owned by Trump Media & Technology Group Corp. Trump Media stock had been on the rise this week ahead of the debate, as Reuters reported. Another possible reason for the fall is that, as Yahoo Finance notes, on September 19—in just eight days—Trump and other early investors in Trump Media will be allowed to start selling their DJT shares due to a lockout period expiring. Other investors may be concerned that any share sell-off on the 19th may send DJT shares even lower, and so they may be selling their shares off ahead of time. DJT shares have had a chaotic ride this year. The stock began trading in March and quickly reached highs of over $71 per share. But by mid-April, its share price fell below $23 per share. After rebounding to over $54 in mid-May, shares have once again sunk. At the close of the market yesterday, DJT shares had increased 3.2% for the day to $18.63. But in premarket today, shares are currently hovering just above $16.
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Shares in Trump Media & Technology Group Corp. (NASDAQ:DJT) are down over 13% in premarket trading this morning at the time of this writing. The fall comes the morning after former president Donald Trump faced off against Vice President Kamala Harris in their first presidential debate last night.
It was a debate where Harris was widely considered to have come away the winner. A CNN flash poll found that 63% of watchers said Harris performed better than Trump.
After the debate, things got even worse for the former president when global superstar Taylor Swift announced her first-ever presidential endorsement—for Kamala Harris.
Okay, but why is DJT stock falling?
This brings us to today’s DJT sell-off. It’s unclear why investors are dumping DJT shares this morning. There has been no news about the fundamentals of the company.
One possible reason for the share price fall is that Harris’s perceived victory over Trump in the debate last night may signal to investors that her chances of beating the former president have increased, which in turn would make his defeat more probable in November.
A defeat for Trump would likely mean that his career in politics is over. If that’s the case, his followers could lose interest. A loss of interest in Trump could negatively affect the number of users of his Truth Social network, where he exclusively posts. Truth Social is owned by Trump Media & Technology Group Corp.
Trump Media stock had been on the rise this week ahead of the debate, as Reuters reported.
Another possible reason for the fall is that, as Yahoo Finance notes, on September 19—in just eight days—Trump and other early investors in Trump Media will be allowed to start selling their DJT shares due to a lockout period expiring. Other investors may be concerned that any share sell-off on the 19th may send DJT shares even lower, and so they may be selling their shares off ahead of time.
DJT shares have had a chaotic ride this year. The stock began trading in March and quickly reached highs of over $71 per share. But by mid-April, its share price fell below $23 per share. After rebounding to over $54 in mid-May, shares have once again sunk.
At the close of the market yesterday, DJT shares had increased 3.2% for the day to $18.63. But in premarket today, shares are currently hovering just above $16.
