Reported over 1 year ago
Shares of Trump Media & Technology Group fluctuated in trading on Friday, initially rising due to President Joe Biden's weak performance against Donald Trump in the first 2024 U.S. presidential debate. The stock, driven mostly by retail traders amid Trump's political ambitions, is considered overvalued and speculative. Despite an initial surge, the stock eventually declined by 6% as Biden's allies attempted to address the fallout from his debate performance. Trump, who holds a majority stake in the company, saw the stock fall after a recent legal issue. Retail traders were net buyers of the stock, while ETFs related to U.S. political parties remained relatively stable.
Source: YAHOO