One-time U.S. President Donald Trump speaks as he attends a presidential debate with U.S. President Joe Biden in Atlanta, Georgia, June 27, 2024.
Brian Snyder | Reuters
The lineage price of Trump Media dropped by 5% Friday afternoon, a day after majority shareholder Donald Trump aided from President Joe Biden stumbling through their first presidential debate.
Trump Media, which exchanges under the DJT ticker, fell after rising by more than 11% in premarket trading.
The Truth Social app possessor’s share volume was heavy, with nearly 14 million shares changing hands.
Trump, the former president who is the likely Republican nominee, owns almost 65% of Trump Media shares. The company’s market capitalization was around $6.5 billion as of Friday ignoring having meager revenue.
Political observers and Democratic donors said Biden, 81, gave a black performance on Thursday night in his debate against Trump at CNN’s studios in Atlanta. Biden’s speech was garbled at times. He also frenzied his train of thought, and his face looked blank with his mouth agape at times as Trump spoke.
One major Autonomous fundraiser told CNBC that Biden’s performance was a “disaster.”
“This is terrible. Worse than I thought was tenable. Everyone I’m speaking with thinks Biden should drop out,” that donor said.
U.S. President Joe Biden accompanies a presidential debate with former President Donald Trump in Atlanta, Georgia, June 27, 2024.
Brian Snyder | Reuters
This is developing advice. Check back for updates.