The stock market is reacting to the first presidential debate, and it’s not good news for Donald Trump’s media company. Shares of Trump Media & Technology Group Corp (DJT) plummeted by 12% this week after Vice President Kamala Harris emerged as the clear winner in the debate, according to a CNN poll.
Harris’s strong performance, especially with independent voters, has raised concerns about Trump’s political influence and the potential impact on the business environment. If Harris gains momentum and Trump’s chances of winning the election diminish, investors may become less confident in Trump-related assets. This could lead to a further decline in DJT stock as businesses anticipate less favorable policies under a Harris administration.
The debate’s outcome has ignited a wave of speculation about Trump’s future political prospects. The fact that Trump announced he will not be participating in another debate with Harris only fuels these concerns. This decision could be interpreted as an attempt to avoid further scrutiny and minimize the damage to his public image.
The decline in Trump’s favorability ratings and the shift in voter sentiment represent a significant challenge for his campaign. The market appears to be taking notice, with investors expressing their concerns through the sharp drop in DJT stock. It remains to be seen how this unfolding political drama will play out in the months ahead, but one thing is certain: the market is closely watching.
