After the recent debate for the upcoming United States presidential election, which saw former president Donald Trump face the current U.S. Vice President Kamala Harris, the stock market seems to believe she was more persuasive of the two, as reflected in the price of Trump Media (NASDAQ: DJT) stock.
Specifically, the Trump Media stock price after the debate erased all of its gains from the pre-debate bounce, making a new 2024 low in a “brutal” trading market, according to the observations shared by professional markets trader Steven Spencer in an X post on September 11.
Indeed, the Trump Media stock price at press time amounted to $15.78, recording a massive 15.62% dive on the day, accumulating a 7.53% decline across the week, and adding up to the one-month dip of 38.16%, as well as losing 10.89% year-to-date (YTD), as per the latest data.
As a reminder, the Trump stock price experienced a steady recovery after the Republican presidential candidate regained popularity over his rival in prediction markets, having increased by over 7% since the news broke out, but the latest developments have forced it to retrace massively.
Considering the sheer amount of the drop, which has brought the DJT shares price from the high of $19.91 on September 10 to a mere $15.75 or as much as 20.89% in less than a day, Trump Media stock might, indeed, continue its decline toward the $10 area, particularly if the public starts favoring Harris more strongly.
In the meantime, Harris has increased her standing in prediction markets, while Trump has reduced it, and they are both currently looking at a 49% chance of victory, according to the most recent information retrieved by Finbold from the cryptocurrency-based Polymarket platform.
All things considered, it seems that Trump Media stock price is sensitive to events and news related to the former president, so it is safe to assume that it would particularly benefit from his potential re-election this November. That said, doing one’s own research is crucial when investing.
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Source: https://finbold.com/will-trump-media-stock-crash-to-10-before-presidential-election/