Former US President Donald Trump speaks as he attends a presidential debate with US President Joe Biden in Atlanta, Georgia on June 27, 2024.
Brian Snyder | Reuters
The share price of Trump media closed down nearly 11% Friday afternoon, a day after majority shareholder Donald Trump saw President Joe Biden stumble in his first presidential debate.
Trump Media, which trades under the ticker symbol DJT, was up more than 11% in premarket trading Friday morning. But the company ended the day at $32.75 per share, down 10.84%.
The Truth Social app owner’s share volume was high: more than 24 million shares changed hands.
Trump, the former president and presumptive Republican nominee, owns nearly 65% of Trump Media shares. The company’s market capitalization was $5.8 billion as of Friday, although revenue was low.
More news about Donald Trump
Political observers and Democratic donors said Biden, 81, delivered a dismal performance in his debate against Trump at CNN studios in Atlanta on Thursday night. Biden’s speech was garbled at times. He also lost his train of thought and his face appeared blank at times with his mouth open as Trump spoke.
A major Democratic fundraiser told CNBC that Biden’s performance was a “disaster.”
“That’s awful. Worse than I thought possible. Everyone I talk to thinks Biden should get out,” this donor said.
U.S. President Joe Biden participates in a presidential debate with former President Donald Trump in Atlanta, Georgia, on June 27, 2024.
Brian Snyder | Reuters
Don’t miss these insights from CNBC PRO
Source link
2024-06-28 20:32:14
www.cnbc.com
