The stock of Trump Media & Technology Group Corp bounced back on Monday after experiencing a pullback on Friday. Despite the first U.S. presidential debate, which saw President Joe Biden and former President Donald Trump discuss various issues like abortion, immigration, and the January 6, 2021, Capitol attack, DJT’s shares ended the week with an overall gain of more than 18%.
Biden’s performance was criticized for being inconsistent, while Trump responded to criticisms by making false claims about the economy, immigration, and his involvement in the Capitol insurrection. Following the debate, Biden’s odds of remaining the Democratic nominee decreased by 29% in political futures markets.
Citi analysts suggested that post-debate news headlines could generate more interest in Trump Media & Technology Group. The stock has surged by 159% over the last 12 months and is often compared to meme stocks like GameStop Corp that trade based on momentum rather than fundamentals.
At the latest check on Monday, DJT shares were trading higher by 2.56% at $33.59 premarket. Please note that this content was partially generated with the help of AI tools and was reviewed by Benzinga editors. Benzinga does not offer investment advice.