Shares of Trump Media, the owner of social networking site Truth Social, jumped 5 per cent at the opening bell on Friday after the first US presidential debate, with some investors believing it could become a bigger mouthpiece for the former president if he is re-elected.
President Joe Biden and former President Donald Trump clashed on Thursday evening on topics including abortion, immigration and the January 6, 2021 attack on the US Capitol.
Biden's performance was largely seen as uneven, particularly early on. He tried repeatedly to confront Trump, who countered Biden's criticism by leaning into falsehoods about the economy, illegal immigration and his role in the January 6 insurrection.
Citi analysts said on Friday there may be increased interest in Trump Media and Technology based on news headlines following the debate.
Shares of Trump Media and Technology have been buffeted during Trump's run for president and swung wildly a day after Trump's conviction in his hush money trial
