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Trump Media Stock Price Inches Up After Ex-President’s Debate Victory Over Biden
Shares of Trump Media jumped after Donald Trump scored what political pundits agreed was a victory over President Biden in the CNN-hosted debate.
The uptick in TMTG’s stock price reflects investor enthusiasm after Trump’s appearance in the June 27 debate with Biden on CNN. Trump uttered numerous untruths — which were largely left unchallenged by CNN moderators Jake Tapper and Dana Bash — but won the night relative to Biden’s halting and muted delivery. Market watchers have noted that the performance of TMTG’s stock is not based on the company’s financial fundamentals but rather trades on the Trump name and has attracted more than 600,000 retail investors who are evidently motivated by their support for the former president.
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