Trump Media Stock Prices Drop 10%+ Post-Debate, but Was Up Initially

Hours before Donald Trump and Joe Biden faced off in Atlanta, Trump Media & Technology Group shares closed at $36.73. Post-debate, the share price spiked 8.3% to $39.78 at open, but fell to $32 per share by Friday afternoon.

"Market volatility for the company is nothing new."

Trump Media went public via a SPAC merger with Digital World Acquisition Corp. in March 2022, months after its founding in 2021. The parent company of Truth Social has been labeled a meme stock, drawing comparisons to GameStop and AMC due to its wild price swings.

Trump Media shares soared initially, then fluctuated wildly, ranging from $79.38 in March to $22.84 in April. The stock rose during Trump's hush money trial, then declined after his guilty verdict, rebounding ahead of the debate. The company reported a Q1 2024 net loss of $327.6 million and $770,500 in revenue, per unaudited filings.

References:

• Whose fault is inflation? Trump and Biden blame each other in heated debate.
• How the parent company of Truth Social went public.
• [Trump Media considered a meme stock](https://www.usatoday.com/story/money/investing/2022/11/10/trump-media- Truth-social-app-gamestop-amc-stock-meme/9605305002/).