Trump stock on the move ahead of Biden TV debate
Trump Media & Technology (NASDAQ:DJT), the 45th American president’s ‘meme-stock’, was on the move ahead of tonight’s debate versus Joe Biden.
Priced at $37.66, DJT shares traded down 4% for the day but remained some 37% higher over the past five trading sessions.
DJT began trading in New York as the result of a SPAC-deal, with the company effectively acquiring an already listed cash-shell in March 2024.
Stock in the company, which owns Trump’s ‘Truth Social’ social media platform, is seen by commentators as a proxy of Donald Trump’s underlying popularity as much as it is a share based on the business fundamentals of the technology company it owns.
Tonight, Trump and Biden will participate in the first presidential debate of their respective new election campaigns.
It will be the first time that the 45th and the 46th US presidents have shared a debating stage since the acrimonious 2020 campaign.
Each presidential candidate’s microphone will be muted when it is not their turn to speak, and, a ‘coin toss’ decided that Trump would get the ‘final words’ – winning the toss meant Biden could choose the podium on the right-hand side of the stage as well as allowing him the choice to speak first.
The debate kicks off at 9:00pm ET. It will be broadcast live on CNN and ABC.
