Following the recent debate between former President Donald Trump and current U.S. Vice President Kamala Harris for the upcoming United States presidential election, the stock market appears to favor Harris as reflected in the performance of Trump Media (NASDAQ: DJT) stock prices. The stock price took a significant hit post-debate, wiping out its pre-debate gains and hitting a new low for 2024, indicative of a challenging trading environment according to professional markets trader Steven Spencer.
At present, the Trump Media stock price stands at $15.78, marking a substantial 15.62% decline in a day, with a weekly accumulation of 7.53% decrease and a one-month dip of 38.16%. Year-to-date, the stock has lost 10.89% based on the latest data available. Despite a previous recovery when Trump regained popularity over his rival in prediction markets, recent developments have caused a sharp decline in the DJT shares price. The drop has been substantial, leading to a 20.89% decrease in less than a day, from a high of $19.91 to $15.75.
The future trajectory of Trump Media stock price may continue downward towards the $10 mark, especially if public sentiment leans more favorably towards Harris. Meanwhile, prediction markets show an increased standing for Harris and a decreased one for Trump, with both candidates currently having a 49% chance of victory in the upcoming election according to Polymarket. The sensitivity of Trump Media stock price to events surrounding the former president suggests that a potential reelection of Trump in November could positively impact its performance. It is imperative for investors to conduct thorough research before making investment decisions.