After Biden failed to fend off Trump’s accusations and bogus allegations, his aides rushed to control the repercussions.
Trump Media & Technology Group which owns Truth Social, up 5.5% to $38.62, while Phunware which worked on Trump’s 2020 election campaign app, rose 1.6% to $6.4.
Conservative-favored video-sharing site Rumble rose 1.4% to $5.80.
“We will see these movements linked increasingly to how election expectations evolve around Trump… markets are happy to have one indicator to price in all this,” said Swissquote Bank senior analyst Ipek Ozkardeskaya.
“Trump Media & Technology Group has little foundation. We observe largely speculative movements.”
The firm reported $770,500 March quarter sales and $12.1 million adjusted operating loss. Its final worth was $6.7 billion.
As Trump gathered momentum in his Republican presidential campaign, TMTG’s shares more than quadrupled this year. This month, a jury convicted Trump guilty of fabricating records to hide a payment to hush a porn actress, putting pressure on the stock.
Trump held 64.9% of TMTG on June 10, worth $4.2 billion at last close, according to LSEG statistics.
Prison operators Geo Group and CoreCivic rose 4.9% and 2.9%, respectively, on anticipation of a tougher crackdown on illegal immigration.
Trump said in the debate that Biden had failed to secure the southern border.
Listen to the article now
You May Also Like
Politics
Ukrainian troops describe Russian tactics they see everyday with a brutal word. They call them “meat assaults”—waves of Russian troops attacking their defensive...
Politics
US President Joe Biden calmed top Democrats and campaign workers after rumors claimed he was considering his departure following last week’s dismal debate with...
Economy
Family members prayed and honored Patricia Portillo and Brayan Godoy. On Saturday, people gathered outside a closed Las Colinas Chick-fil-A to memorialize two employees...
Technology
South Dallas AT&T customers lose service following copper cable theft. Due to copper wire theft, AT&T customers in South Dallas are experiencing lengthy service...
Comment Template