Following a recent debate between former President Donald Trump and current U.S. Vice President Kamala Harris for the upcoming presidential election, the stock market appears to favor Harris over Trump. This sentiment is evident in the performance of Trump Media stock (NASDAQ: DJT) following the debate.
After the debate, Trump Media stock price plummeted, erasing all previous gains and reaching a new low for 2024. Professional trader Steven Spencer described the market conditions as “brutal” in a post on September 11.
As of the most recent data, the Trump Media stock price stands at $15.78, experiencing a significant 15.62% drop in a single day, with a weekly decline of 7.53% and a one-month decrease of 38.16%. Year-to-date, the stock has fallen by 10.89%.
Despite a previous rise in Trump’s popularity in prediction markets, leading to a recovery in the stock price, recent developments have caused a sharp reversal. The drop in DJT shares from $19.91 to $15.75 in less than a day may indicate a further decline towards the $10 range if public sentiment shifts towards favoring Harris.
In contrast, Harris has been gaining ground in prediction markets while Trump’s standing has diminished. Both candidates currently hold a 49% chance of victory according to data from the cryptocurrency platform Polymarket.
The volatility of Trump Media stock price suggests a sensitivity to events related to the former president, making it potentially lucrative in the event of his re-election. However, it is essential for investors to conduct thorough research before making any investment decisions.
Please note that the information provided in this content is not intended as investment advice, and investing always carries inherent risks.