‘He just lied and lied’: Trump faces ridicule as Trump Media shares plummet after presidential debate

MANHATTAN, NEW YORK: The Trump Media & Technology Group (TMTG) witnessed a decrease of approximately seven percent in its stock value at 12.13 pm ET on Friday, June 28, as it traded at $34.12, following an initial 5 percent surge at the opening bell.

This movement occurred subsequent to Thursday's closing price of $36.73 per share, according to Newsweek.

The fluctuation in TMTG share prices ensued after the presidential debate on Thursday night, June 27, during which former President Donald Trump, the leading shareholder of TMTG, engaged in a contentious verbal exchange with incumbent President Joe Biden.

What prompted initial spike and subsequent drop in TMTG share prices?

President Joe Biden's performance at the first presidential debate of this election cycle was abysmal. Even Vice President Kamala Harris acknowledged that he had a "slow start" to the evening.

Shares in the Truth Social parent company have shown unpredictable performance since it debuted on the stock market in March of this year, with significant increases and decreases in value.

Jay Ritter, a finance professor at the University of Florida, has compared the company's performance on the financial markets to that of "meme stocks," such as AMC and GameStop, which gained widespread attention in 2021 after investors on social media platforms, particularly Reddit, organized buying sprees.

"Last week the price tumbled when it was announced that warrants, which are call options issued by the company, could be converted into common stock," Ritter told the aforementioned outlet.

Bookmakers now see improved odds of the 78-year-old MAGA strongman winning the November election, with Betfair spokesperson Sam Rosbottom claiming, "Biden's disastrous head-to-head with Trump has seen punters rapidly lose faith that the incumbent president has another five years in him.”

"The two men were neck-and-neck back in April; now, despite Trump's varying legal and financial headaches, he has the punters' firm backing to be the next US president," he added.

During Thursday's CNN-hosted debate, the 81-year-old Democrat statesman stumbled over his words on multiple occasions, including a notable instance when he mentioned beating Medicare.

Concerns were also raised regarding President Biden's hoarse and raspy voice during the debate, which, a Biden aide confirmed to the outlet is due to the Commander-in-Chief’s recent bout with a cold.

Derek Horstmeyer, a George Mason University finance professor, previously told the aforementioned outlet that such an outcome was always on the cards.

"If Trump has a strong debate in the eyes of his supporters, they may rush into the stock as a way of supporting him, pushing the price up," he said at the time.

"If on the other hand, Biden does well then they still may rush in as a form of supporting their candidate."

"If the debate is boring and uneventful and both get poor marks by both sides, then you might see his supporters leave the stock and the price drops as a result," Horstmeyer added.

Internet reacts as Trump Media witnesses drop in value following presidential debate

People online lambasted the former President of the United States after his Trump Media & Technology Group (TMTG) saw a steep fall after his debate with President Joe Biden on Thursday.

One person commented, "Because it doesn't matter what a performance poll says. He just lied and lied. He'll lose in the only poll that actually matters."

Another person said, "It's nothing more than a penny stock.  People are going to get burned badly buying this worthless stock. It has nothing to do with the debate."

Another person quipped, "Can't call it Truth Social if Internet derided Donald Trump as Trump Media shares witness a drop in value following the presidential debate."

One person remarked, "Wait till he sells, its coming, before the election, get ready Trumpers u will be left holding the bag."

Another person claimed, "Trumps performance was horrible. He's unfit for president. I'm ridin' with Biden all the way!  He had a bad night but he's still the one!"

Finally, this person asked, "Why would anybody buy into any of his business ventures?"

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.