:max_bytes(150000):strip_icc()/GettyImages-1258917778-d6c80ae461294e26bce21d9c2d6a3900.jpg "Trump Media Stock Slumps After First Presidential Debate")
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Key Takeaways
- Trump Media & Technology Group’s stock tumbled after Tuesday night’s debate between the former president and Vice President Kamala Harris.
- The stock is extending its recent stretch of losses that have dropped it to its lowest point since before the merger that took Trump Media public.
- Trump Media shares were 11% lower in premarket trading Wednesday.
Shares of Trump Media & Technology Group (DJT) tumbled Wednesday morning following the presidential debate between Vice President Kamala Harris and former President Donald Trump.
Tuesday night’s debate was the first between the candidates since Harris took over the campaign from President Joe Biden and became the Democratic nominee at the party’s convention last month.
Trump Media Extends Recent Slide
Trump Media shares were 11% lower in premarket trading Wednesday, extending a recent pullback that has sent the stock to its lowest point since before the company merged with Digital World Acquisition Corp. (DWAC) and went public in March.
Trump Media’s meme stock-like peaks and valleys that were common in the months after merging with DWAC and becoming a public company have faded in recent weeks, with the stock trending consistently lower since mid-July.
Another factor that could be impacting Trump Media stock is that pop superstar Taylor Swift officially endorsed the Harris campaign following the debate.