On Monday, the stock price of Trump Media & Technology Group Corp (NASDAQ:DJT) rebounded after a decline on Friday. The stock had fallen over 10% following the first U.S. presidential debate, highlighting its volatility on Wall Street. Despite initially rising by 5%, the shares saw a significant decline throughout the day.
The owner of social networking site Truth Social ended the week with an overall gain of more than 18%. During the debate between President Joe Biden and former President Donald Trump, topics such as abortion, immigration, and the January 6 Capitol attack were discussed. Biden’s performance was viewed as inconsistent while Trump defended himself with false claims about various issues.
Following the debate, Biden’s chances of remaining the Democratic nominee decreased in political futures markets. Citi analysts suggested that news headlines post-debate could generate more interest in Trump Media & Technology Group stock, which has gained 159% in the last 12 months. Some experts compare TMTG to meme stocks like GameStop Corp (NYSE:GME), which are driven by momentum over fundamentals.
As of the last check on Monday, DJT shares were trading 2.56% higher at $33.59 premarket. This article was produced using AI tools and reviewed by Benzinga editors for accuracy and clarity before publication to Benzinga Pro users who subscribe to our premium service for personalized portfolio analysis and real-time market data at https://www.benzinga pro
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