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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle



Trump Media shares rise following Biden’s first presidential debate collapse.

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image credit: Wikimedia Commons

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.

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