Following a heated debate for the upcoming United States presidential election between former President Donald Trump and current U.S. Vice President Kamala Harris, market signals suggest that Harris managed to outshine Trump, evident in the decline of Trump Media (NASDAQ: DJT) stock post-debate. Professional trader Steven Spencer noted the stock’s plunge to a new low amid harsh trading conditions in a recent post.
The Trump Media stock price plummeted by 15.62% in a day, with a weekly decline of 7.53% and a one-month downturn of 38.16%. Year-to-date, the stock has lost 10.89%, now standing at $15.78. Despite a recent recovery following Trump’s resurgence in prediction markets, the stock’s significant retracement has led to concerns about a potential further drop towards $10 if public sentiment favors Harris over Trump.
As Harris gains traction in prediction markets while Trump’s popularity wanes, both candidates currently hold a 49% chance of victory. Market dynamics indicate that Trump Media stock is particularly sensitive to developments surrounding the former president, potentially benefiting from a re-election this November. However, thorough research is advised before making any investment decisions.
Please note that the information provided is not financial advice, and investing involves risk. Consider consulting with a professional before making any investment choices.