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Shares of Trump Media & Technology rise following first presidential debate

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Shares of Trump Media, the owner of social networking site Truth Social, jumped 5% at the opening bell Friday after the first U.S.

presidential debate, with some investors believing it could become a bigger mouthpiece for the former president if he is re-elected.

Biden's performance was largely seen as uneven, particularly early on. He tried repeatedly to confront Trump, who countered Biden’s criticism by leaning into falsehoods about the economy, illegal immigration and his role in the Jan. 6 insurrection. Shares of Trump Media & Technology have been buffeted during Trump's run for president and swung wildly a day after Trump's conviction in his hush money trial.

The stock, which trades under the ticker symbol “DJT,” has been extraordinarily volatile since its debut in late March, joining the group of meme stocks that are prone to ricochet from highs to lows as small-pocketed investors attempt to catch an upward momentum swing at the right time.

 

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