Shares of Trump Media & Technology Group (DJT) surged in premarket trading on Friday, continuing a recovery following the first 2024 presidential debate between President Joe Biden and former President Donald Trump. Trump, who is also the majority shareholder of the company, clashed with Biden during the debate, with the two candidates disagreeing on various issues such as abortion, immigration, foreign policy, and inflation.
Biden’s performance during the debate raised concerns about his age, as he appeared hoarse and at times struggled to convey his message clearly. In contrast, Trump reiterated his claims of election fraud and denialism. The debate took place amidst a recent court ruling rejecting restrictions on White House interactions with social media companies to combat disinformation, which impacted Trump Media’s stock.
The Supreme Court is expected to issue more rulings that could impact the company’s future on Thursday and Friday. Despite these challenges, Truth Social, the social media platform under Trump Media, has faced difficulties retaining users. At the last check on Friday, DJT shares were trading higher by 9.64% at $40.26 in premarket trading.
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