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Stock Trump Media The stock continued to fall on Thursday, closing at a new low following Tuesday’s presidential debate between former President Donald Trump, the company’s largest shareholder, and Democratic Vice President Kamala Harris.
The company’s shares fell 3.6% for the day to close at $16.07 per share, the lowest price since the company went public on the Nasdaq in March.
Shares of Truth Social’s parent company, which trades under the ticker symbol “DJT,” have fallen nearly 14% since Tuesday night’s ABC News debate in Philadelphia.
The Harris campaign called the debate a victory for the Democrats, and criticized pundits and Strategist On both the political left and right. Trump has repeatedly claimed he won Tuesday’s showdown.
But the decline in Trump Media shares, which often rise and fall with Trump’s political fortunes, suggests investors may not be convinced Trump won the debate.
The Republican candidate announced in a post on Truth Social on Thursday afternoon that he would no longer be participating in debates.
Harris challenged Trump to a second round of voting shortly after the candidates left the stage on Tuesday night, but Trump declared victory on Thursday. Wrote, “There will be no third debate!”
DJT’s plunge this week is the latest chapter in a months-long decline in the stock price.
Trump Media shares have fallen about 60% since their last surge in July after the assassination attempt on President Trump. They have fallen about 78% since the company merged with a special acquisition company and went public in March.
The former president owns about 57% of Trump Media. Later this month, “lockup” restrictions that prevent him from selling shares will be lifted, giving Trump the opportunity to sell his stake. It is unclear whether he will sell or keep his shares.
After the close of trading on Thursday, the company’s market capitalization was $3.2 billion.
