Tuesday, July 16, 2024
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Trump media stocks soar after disastrous Biden debate

Shares of former President Donald Trump’s media companies surged on Friday after a presidential debate that was widely viewed as an unmitigated disaster for his opponent, now-President Joe Biden.

Trump Media & Technology Group (the parent company behind Trump’s social media sites, truth society) Quartz was up 5% at the open on Friday morning Report. The media noted that the company’s stock, DJT, also rose 15% in pre-market trading on Friday.

TMTG went public earlier this year a well publicized transaction, and has earned a reputation as a particularly volatile stock, prone to large increases in value. sometimes it has been compared to meme stocks. True to form, the stock’s gains on Friday didn’t last long. Later in the day, it slipped again, down as much as 6%. But the incident does provide further evidence that the success of his media companies is closely tied to his political fortunes.

The short-term success of market success is largely due to the attributed The results from Thursday’s presidential debate, the first of the election season. according to CNN poll, 67% of respondents believed Trump was the winner of the debate. However, according to CNN, he is also said to have Made dozens of false claimsTrump’s speech was clearly stronger than Biden’s. He didn’t stumble over his words, and, while many of the things he said sounded unprecedented and unhinged (at one point, he said Biden could “become a convicted felon as soon as he leaves office”) , but he was “a criminal” and he allowed America to be “destroyed”), they said in a strong, declarative way, unlike Biden.

There’s no way to sugarcoat it: Biden’s performance on Thursday was terrible. His answers were incoherent, barely audible and incoherent, and he looked old and tired. At one point, the 81-year-old president stammered in pain for several seconds about what he knew. before announcing Illogical: ‘We finally defeated Medicare!’ In another attempt to discuss abortion, Biden Talking aimlessly about rape and immigration a troubling time. At many points in the debate, the president looked around the room with a blank look on his face, his mouth slightly open, looking vaguely like a dying fish.

Democratic staffers are now said to be panicking about how poorly their candidates are doing. “Biden is screwed — let’s just say that now,” one Democratic activist said tell politicians After the debate last night. “Biden needs to quit. No question about it,” another political insider tell exit. Even more grimly, one party donation consultant quipped: “Our only hope is that he quits, we have a meeting, or[he]dies. Otherwise we’re dead.”

The question remains why anyone thought the debate was a good idea. Anyone who knows anything about politics has known for years that Biden has trouble speaking a coherent sentence when cameras are nearby. That said, Biden appears to be rebounding after Thursday night’s debate, Give a stump speech Friday’s speech in North Carolina was surprisingly compelling, dynamic, and very good. “Where was this guy last night?” Washington Post columnist Ask who attended the event.

Democratic Insiders Now Possibility of replacing Biden said to be under discussion on the ballot, but that’s only possible if Biden himself signs off on the idea. It seems he won’t do that. “Of course, he’s not withdrawing,” Biden spokesman Seth Schuster tell hill Friday.

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