Trump’s Disastrous Debate Night Is Already Hurting His Wallet
Donald Trump’s poor debate performance is now hitting his wallet—his media company’s stock plummeted in Wednesday morning trading. Shares of Trump Media & Technology stock opened 15 percent lower the morning after Tuesday night’s debate on ABC, very close to an all-time low for the company since its initial public offering in March. It’s not a good time, either: In eight days, Trump and the company’s other large shareholders will be allowed to sell their stock. Trump owns about 57 percent of Trump Media’s stock, amounting to about $2 billion at market close on Tuesday. Wednesday’s early trading caused the value of Trump’s stock to drop $200 million. It’s a sign that investors don’t think he performed well during Tuesday’s debate, as the stock’s performance often shows how people are feeling about the former president. It’s been a bad couple of months for Trump Media. While its value spiked during the Republican National Convention in July, the stock has declined in the weeks since, particularly after Joe Biden withdrew from the presidential election. When Trump broke a long hiatus to finally post again on X (formerly Twitter) last month, the stock nosedived, as it looked like bad news for Truth Social, Trump Media’s only product. Trump is in a lot of debt, whether it’s unpaid bills, his legal fees, or the financial judgment against him due to his fraud trial. In fact, the state of New York may very well seize his assets. He’s resorted to half-baked moneymaking schemes like selling NFT trading cards, his own branded Bibles, and assassination-themed sneakers. Will he sell off his stock as soon as he gets the chance? If the other major shareholders in the company do so before he can, the value of his company will plummet even further, and he could be left holding a company that’s worth less than his grandiose promises.
Donald Trump’s poor debate performance is now hitting his wallet—his media company’s stock plummeted in Wednesday morning trading.
Shares of Trump Media & Technology stock opened 15 percent lower the morning after Tuesday night’s debate on ABC, very close to an all-time low for the company since its initial public offering in March. It’s not a good time, either: In eight days, Trump and the company’s other large shareholders will be allowed to sell their stock.
Trump owns about 57 percent of Trump Media’s stock, amounting to about $2 billion at market close on Tuesday. Wednesday’s early trading caused the value of Trump’s stock to drop $200 million. It’s a sign that investors don’t think he performed well during Tuesday’s debate, as the stock’s performance often shows how people are feeling about the former president.
It’s been a bad couple of months for Trump Media. While its value spiked during the Republican National Convention in July, the stock has declined in the weeks since, particularly after Joe Biden withdrew from the presidential election. When Trump broke a long hiatus to finally post again on X (formerly Twitter) last month, the stock nosedived, as it looked like bad news for Truth Social, Trump Media’s only product.
Trump is in a lot of debt, whether it’s unpaid bills, his legal fees, or the financial judgment against him due to his fraud trial. In fact, the state of New York may very well seize his assets. He’s resorted to half-baked moneymaking schemes like selling NFT trading cards, his own branded Bibles, and assassination-themed sneakers. Will he sell off his stock as soon as he gets the chance? If the other major shareholders in the company do so before he can, the value of his company will plummet even further, and he could be left holding a company that’s worth less than his grandiose promises.
