FILE - Pedestrians walk past a Nasdaq window displaying news on Trump Media on March 26, 2024, in New York.
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., who countered Biden’s criticism by leaning into falsehoods about the economy, illegal immigration and his role in the Jan. 6 insurrection.
In political futures markets, where investors can put money on the political fates of candidates, Biden’s odds of remaining the Democratic party’s nominee slid 29% after the debate. Citi analysts said Friday there may be increased interest in Trump Media & Technology based on news headlines following the debate.of falsifying business records in a scheme to illegally influence the 2016 election through hush money payments to a porn actor who said the two had sex.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.
The stock has tripled this year, in the process frequently making double-digit percentage moves either higher or lower on a single day. It peaked at nearly $80 in intraday trading on March 26. For context, the S&P 500 is up almost 10% year to date.Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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