Trump Media Stock Seesaws After First Presidential Debate

By Andrew Kessel
Published June 28, 2024
12:56 PM EDT
President of the United States Joe Biden and Former President Donald Trump at the first Presidential Debate at CNN Studios in Atlanta, Georgia, on June 27, 2024.
President of the United States Joe Biden and Former President Donald Trump at the first Presidential Debate at CNN Studios in Atlanta, Georgia, on June 27, 2024.

Anadolu / Contributor / Getty Images

Key Takeaways

  • Shares of Trump Media & Technology Group, the media company of former President Donald Trump, jumped in early trading Friday before turning lower, one day after the first 2024 presidential debate.
  • Over two-thirds of debate viewers polled by CNN, which hosted the debate, said they believed Trump won the debate versus President Joe Biden. 
  • Trump Media's stock price has experienced significant volatility since it merged with Digital World Acquisition Corp. and became a public company in March.

Trump Media & Technology Group (DJT) shares surged in early trading Friday before turning lower, one day after the first 2024 presidential debate Thursday night.

The parent company of Donald Trump’s social media site Truth Social saw its stock price climb more than 9% ahead of the opening bell Friday, though shares reversed course after the opening bell and were about 6% lower in early afternoon trading.

The stock has experienced significant volatility since it merged with Digital World Acquisition Corp. and became a public company in March.

DJT stock price chart since March 2024

TradingView

The swing in Trump Media shares Friday came after a majority of debate viewers polled by CNN, which hosted the debate, said they believed Trump won the debate. About two-thirds of respondents said Trump gave a stronger performance than President Joe Biden.

Other stocks associated with the former president's campaign also rose in early trading Friday before turning lower. Shares of Phunware (PHUN), which developed the Trump 2020 campaign app, were down nearly 10% after reversing early gains.

Rumble (RUM), an online video platform popular among conservatives, reported a record number of live stream viewers during the debate Thursday, and its stock climbed early Friday before dropping about 3% later in the session.

Do you have a news tip for Investopedia reporters? Please email us at
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

  1. CNN. “CNN Flash Poll: Majority of debate watchers say Trump outperformed Biden.”

  2. Phunware. “Phunware Announces Strategic Relationship with American Made Media Consultants for the Trump-Pence 2020 Reelection Campaign’s Mobile Application Portfolio.”

  3. X Platform. “@rumblevideo, 11:31 p.m. ET June 27, 2024.”

Take the Next Step to Invest
×
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.