{"id":2122,"date":"2024-09-12T08:11:15","date_gmt":"2024-09-12T08:11:15","guid":{"rendered":"http:\/\/forefrontnews.cn\/?p=2122"},"modified":"2024-09-12T08:11:15","modified_gmt":"2024-09-12T08:11:15","slug":"donald-trumps-social-media-stock-closes-at-a-record-low-after-his-rocky-debate-performance","status":"publish","type":"post","link":"http:\/\/forefrontnews.cn\/?p=2122","title":{"rendered":"Donald Trump\u2019s social media stock closes at a record low after his rocky debate performance"},"content":{"rendered":"<div class=\"image__lede article__lede-wrapper\" data-editable=\"lede\" data-freewheel-lede=\"true\">\n<div class=\"image image__hide-placeholder image--eq-extra-small image--eq-small\" data-uri=\"cms.cnn.com\/_components\/image\/instances\/cm0xr5grs00013b6lsm5g7cjr@published\" data-image-variation=\"image\" data-name=\"GettyImages-2171251339.jpg\" data-component-name=\"image\" data-observe-resizes=\"\" data-breakpoints=\"{&quot;image--eq-extra-small&quot;: 115, &quot;image--eq-small&quot;: 300}\" data-original-ratio=\"0.666875\" data-original-height=\"1067\" data-original-width=\"1600\" data-url=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/gettyimages-2171251339.jpg?c=original\" data-editable=\"settings\">\n<div class=\"image__container \" data-image-variation=\"image\" data-breakpoints=\"{&quot;image--eq-extra-small&quot;: 115, &quot;image--eq-small&quot;: 300, &quot;image--show-credits&quot;: 525}\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2123\" title=\"gettyimages-2171251339\" src=\"http:\/\/forefrontnews.cn\/wp-content\/uploads\/2024\/09\/gettyimages-2171251339.jpg\" alt=\"gettyimages-2171251339\" width=\"1480\" height=\"833\" srcset=\"http:\/\/forefrontnews.cn\/wp-content\/uploads\/2024\/09\/gettyimages-2171251339.jpg 1480w, http:\/\/forefrontnews.cn\/wp-content\/uploads\/2024\/09\/gettyimages-2171251339-300x169.jpg 300w, http:\/\/forefrontnews.cn\/wp-content\/uploads\/2024\/09\/gettyimages-2171251339-1024x576.jpg 1024w, http:\/\/forefrontnews.cn\/wp-content\/uploads\/2024\/09\/gettyimages-2171251339-768x432.jpg 768w\" sizes=\"(max-width: 1480px) 100vw, 1480px\" \/><\/div>\n<\/div>\n<\/div>\n<div class=\"article__content-container\">\n<div class=\"article__content\" data-editable=\"content\" data-reorderable=\"content\">\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqf5m1000mxqqc0blwhcfr@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">Wall Street sure is acting like Donald Trump lost the debate Tuesday night.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xrrpae0001356l80qfsn5o@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">Investors swiftly penalized Trump\u2019s social media\u00a0business\u00a0following the former president\u2019s widely panned debate performance. Other so-called Trump trades, including bitcoin and Coinbase, went into reverse Wednesday, while\u00a0bonds and\u00a0Asian currencies rallied. And some funds that own solar and other clean energy stocks rose sharply.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000b3b6knfolut6c@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">Shares of Trump Media &amp; Technology Group plunged 17% Wednesday to the\u00a0<a href=\"https:\/\/www.cnn.com\/2024\/09\/09\/business\/trump-stock-truth-social\/index.html\">lowest level<\/a>\u00a0since the Truth Social owner went public in late March, before ending the day at a record low, down 10%.<\/p>\n<div class=\"ad-slot-dynamic ad-slot-dynamic--1\" data-uri=\"cms.cnn.com\/_components\/ad-slot-dynamic\/instances\/sharethrough@published\" data-placement=\"{&quot;mobile&quot;:{&quot;position&quot;:5},&quot;desktop&quot;:{&quot;position&quot;:3}}\" data-unselectable=\"true\">\n<div class=\"ad-slot\" data-uri=\"cms.cnn.com\/_components\/ad-slot\/instances\/cnn-v1@published\" data-path=\"end\/ad-slot-dynamic[0]\/items\" data-desktop-slot-id=\"ad_nat_btf_01\" data-mobile-slot-id=\"ad_nat_btf_01\" data-unselectable=\"true\">\n<div class=\"ad-slot__feedback ad-feedback-link-container\">\n<div class=\"ad-slot__ad-label\"><\/div>\n<div class=\"ad-feedback-link\" data-ad-type=\"DISPLAY\" data-ad-identifier=\"ad_nat_btf_01\">\n<div class=\"ad-feedback-link__label\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000c3b6k5f95ddhf@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">The sharp selloff represents an immediate reaction to the\u00a0<a href=\"https:\/\/www.cnn.com\/2024\/09\/10\/politics\/debate-takeaways-trump-harris\/index.html\">ABC presidential debate<\/a>, where Vice President Kamala Harris\u00a0<a href=\"https:\/\/www.cnn.com\/2024\/09\/11\/politics\/harris-trump-debate-analysis\/index.html\">successfully threw Trump off his game<\/a>.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000d3b6k8uo3p530@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">It\u2019s the exact opposite of the\u00a0<a href=\"https:\/\/www.cnn.com\/2024\/06\/28\/investing\/trump-media-stock-debate\/index.html\">reaction in Trump Media\u2019s share price<\/a>\u00a0on June 28 after President Joe Biden\u2019s disastrous performance in the CNN debate. Trump Media initially spiked 10% that day, before fizzling and ending in the red.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000e3b6kg3th7o6c@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">Trump Media has at times become a way for traders to bet on the political fortunes of Trump and the chances he returns to the White House.<\/p>\n<div class=\"related-content related-content--live-story\" data-uri=\"cms.cnn.com\/_components\/related-content\/instances\/cm0xrdhsq00083b6lbn8w4j48@published\" data-component-name=\"related-content\" data-article-gutter=\"true\" data-analytics-observe=\"on\">\n<p class=\"related-content__headline\"><span class=\"related-content__title-text\" data-editable=\"content.title\">RELATED LIVE-STORY<\/span><span class=\"related-content__headline-text\" data-editable=\"content.headline\">The latest on the Trump-Harris debate and 2024 campaign<\/span><\/p>\n<\/div>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000f3b6ko25do5r5@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">\u201cThe perception in the market is she won the debate,\u201d Matthew Tuttle, CEO of Tuttle Capital Management, told CNN on Wednesday, pointing to shifts in Harris\u2019 favor in\u00a0<a href=\"https:\/\/www.predictit.org\/markets\/detail\/7456\/Who-will-win-the-2024-US-presidential-election\" target=\"_blank\" rel=\"noopener\">the betting markets overnight<\/a>.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000g3b6klhaaqi2x@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">Trump is not only the dominant shareholder in Trump Media, he is the most popular user on Truth Social, the company\u2019s only significant product. The company\u2019s stock ticker symbol is even \u201cDJT.\u201d<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000h3b6kxpqz11n5@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">\u201cI think if he loses, he has to sell and DJT goes to $1. If he wins, he doesn\u2019t sell and DJT can make a run for it,\u201d Tuttle said.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000i3b6kq386ghon@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">The lock-up restrictions preventing Trump from selling his 114.75 million shares in Trump Media are\u00a0<a href=\"https:\/\/www.cnn.com\/2024\/08\/29\/business\/trump-truth-social-stock\/index.html\">set to expire later this month<\/a>. The lifting of the lock-up agreement will free Trump to sell some shares, but experts say it would be almost impossible for the former president to quickly unload most or all of his stake without tanking the share price.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000j3b6kgnccg4a6@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">Michael Block, chief strategy officer and co-founder of AgentSmyth, told CNN that Trump Media\u2019s selloff Wednesday appears to be related to what investors saw during the debate.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000k3b6kyntzv6xc@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"on\">\u201cGiven its lack of earnings and other quantifiable metrics, DJT is not exactly a traditional growth or value play for investors,\u201d Block said in an email. \u201cDJT is a story stock and perhaps investors didn\u2019t like the story that President Trump was telling the world last night.\u201d<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000l3b6kf9xa9p0q@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"off\">Trump Media\u2019s share price rallied heading into the debate, jumping 9% during the first two days of this week.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000m3b6kyeuj7wec@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"off\">But in the bigger picture, the stock has struggled badly in recent months, losing about half its value since Biden dropped out of the race for the White House in July. The owner of Truth Social fell last week to the lowest level since it went public in late March.<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph-primary-core-light\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm0xqq38f000n3b6kawmnqpij@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\" data-analytics-observe=\"off\">The value of Trump\u2019s stake in the company has fallen sharply, going from $6.2 billion on May 9 to about $1.9 billion on Wednesday.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street sure is acting like Donald Trump lost the debate Tuesday night. Investors swiftly penalized Trump\u2019s social media\u00a0business\u00a0following the former president\u2019s widely panned debate performance. Other so-called Trump trades,&hellip; <\/p>\n","protected":false},"author":1,"featured_media":2123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[260,257],"tags":[545,571,221,319],"views":157,"_links":{"self":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts\/2122"}],"collection":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2122"}],"version-history":[{"count":1,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts\/2122\/revisions"}],"predecessor-version":[{"id":2124,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts\/2122\/revisions\/2124"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/media\/2123"}],"wp:attachment":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2122"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}