Shares of Trump Media, the owner of social networking site Truth Social, jumped 5% at the opening bell Friday after the first U.S. presidential debate, with some investors believing it could become a bigger mouthpiece for the former president if he is re-elected.
and clashed Thursday evening on including abortion, immigration and the
performance was largely seen as , particularly early on. He tried repeatedly to confront , who countered Biden鈥檚 criticism by leaning into falsehoods about the economy, illegal immigration and his role in the Jan. 6 insurrection.
Citi analysts said Friday there may be increased interest in Trump Media & Technology based on news headlines following the debate.
Shares of Trump Media & Technology have been buffeted during Trump's run for president and a day after Trump's conviction in his hush money trial.
A New York jury of falsifying business records in a scheme to illegally influence the 2016 election through hush money payments to a porn actor who said the two had sex.
The stock, which trades under the ticker symbol 鈥淒JT,鈥� has been since its debut in late March, joining the group of meme stocks that are prone to ricochet from highs to lows as small-pocketed investors attempt to catch an upward momentum swing at the right time.
The stock has tripled this year, in the process frequently making double-digit percentage moves either higher or lower on a single day. It peaked at nearly $80 in intraday trading on March 26. For context, the S&P 500 is up almost 10% year to date.
Trump Media & Technology reported in May that it lost more than $300 million last , according to its first earnings report as a .
Michelle Chapman, The Associated Press
