Vice President Kamala Harris' ascension as the likely Democratic presidential nominee not only raised the spirits of Democrats worried about President Joe Bidens age, it also cut into Donald Trump's net worth.
According to a report from CNN, from the moment Harris hit the ground running and created a tidal wave of interest in her presidential campaign the valuation for Trump's Truth Social platform plummeted almost 25 percent.
As CNN is reporting, prior to Biden gracefully exiting, Trump's stake in Trump Media & Technology Group sat just over $4 billion. Afterward as Harris moved to the forefront of possible Trump opponents, it dropped by about 23 percent "including another sharp drop on Thursday amid a broader market selloff."
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That led to a whopping $900 million decrease.
According to CNN's Matt Egan, "In June, Trump Media’s share price briefly popped following Biden’s disastrous debate performance. The stock spiked again last month after Trump survived an attempted assassination attempt in Pennsylvania. At the same time, Trump’s Truth Social struggles to gain traction in the social media world."
While adding Trump Media is still valued at $5.1 billion, the report notes, analysts still believe the stock is way overvalued.
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