On Monday, Trump Media & Technology Group Corp (NASDAQ: DJT) stock began to recover after experiencing a significant drop in value on Friday. The stock had plummeted over 10% following the first U.S. presidential debate, demonstrating its volatility in the market. Despite a 5% jump at the opening bell on Monday, the shares ultimately decreased throughout the day, according to a report from Business Standard.
After a week that saw the stock gain more than 18%, President Joe Biden and former President Donald Trump engaged in a debate covering various issues such as abortion, immigration, and the Capitol attack on January 6, 2021. Biden’s performance was criticized as inconsistent, while Trump repeated false claims about the economy, immigration, and his connection to the Capitol insurrection.
Post-debate headlines could potentially drive further interest in Trump Media & Technology Group stock, according to analysts at Citi. Over the past 12 months, the stock has gained 159%, drawing comparisons to meme stocks like GameStop Corp (NYSE: GME) that rely heavily on momentum rather than underlying fundamentals.
As of Monday, DJT shares were trading higher by 2.56% premarket at $33.59. It is important to note that this content was partially generated with the assistance of AI tools and was reviewed by Benzinga editors before publication.