On Monday, Trump Media & Technology Group Corp (NASDAQ:DJT) stock saw a significant rebound following a dip on Friday. The stock had dropped over 10% after the first U.S. presidential debate, highlighting its volatile nature on Wall Street. Despite opening with a 5% increase, the shares saw a decline throughout the day.
The owner of the social networking site Truth Social ended the week with an overall gain of more than 18%. During the debate between President Joe Biden and former President Donald Trump, topics like abortion, immigration, and the January 6 Capitol attack were discussed. Biden’s performance was viewed as inconsistent, while Trump defended himself with false claims about various issues.
Following the debate, Biden’s chances of remaining the Democratic nominee decreased in political futures markets. Citi analysts suggested that news headlines post-debate could generate more interest in Trump Media & Technology Group stock, which has gained 159% in the last 12 months. Some experts compare TMTG to meme stocks like GameStop Corp (NYSE:GME), which are driven by momentum over fundamentals.
As of the last check on Monday, DJT shares were trading 2.56% higher at $33.59 premarket. This article was produced using AI tools and reviewed by Benzinga editors for accuracy and clarity. For more stock analysis and insights into current market trends, subscribe to our newsletter or try out Benzinga Pro for free today!