Trump Media & Technology Group Corp (NASDAQ:DJT) stock experienced a resurgence on Monday following a pullback on Friday. The stock had dropped over 10% after the first U.S. presidential debate, showcasing its volatility on Wall Street. Despite opening with a 5% increase, the shares faced significant drops throughout the day. However, they still ended the week with an overall gain of more than 18%.
During the debate between President Joe Biden and former President Donald Trump, issues like abortion, immigration, and the January 6, 2021 Capitol attack were discussed. Biden’s performance was criticized as inconsistent, while Trump countered with false claims about the economy, immigration, and his involvement in the Capitol insurrection. Following the debate, Biden’s odds of remaining the Democratic nominee decreased by 29% in political futures markets.
Citi analysts speculated that post-debate news headlines could generate more interest in Trump Media & Technology Group. The stock has seen a 159% increase in the last 12 months and is often compared to meme stocks like GameStop Corp (NYSE:GME) that rely on momentum rather than fundamentals for trading. Currently, DJT shares were trading higher by 2.56% at $33.59 premarket. This content was produced with assistance from AI tools and reviewed by Benzinga editors.