On Thursday evening, former President Donald Trump and current President Joe Biden engaged in a heated debate that touched on several contentious topics. The clash between the two leaders drew a significant amount of attention and discussion.
Following the debate, Trump Media and Technology, the parent company of social networking site Truth Social, saw a 5% increase in its share price at the opening bell on Friday. Some investors speculated that the platform could potentially become a powerful tool for Trump should he be re-elected as president.
Despite this, Citi analysts noted an increased interest in Trump Media and Technology following the debate. However, Biden’s performance in the debate was viewed as uneven, with early struggles to effectively counter Trump’s attacks. In contrast, Trump made questionable claims about the economy, immigration, and his involvement in the January 6 insurrection.
Throughout the year, the stock of Trump Media and Technology has experienced significant volatility, particularly during Trump’s involvement in the company and amidst legal challenges. The company reported significant losses of over $300 million in the last quarter, further adding to