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Donald Doubles Down on the pet disinformation in the debate aftermath [1]

['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']

Date: 2024-09-11  

The shares of Trump Media & Technology Group (TMTG), which operates Truth Social, experienced a significant drop of over 11% in premarket trading following a debate between Donald Trump and Kamala Harris in Philadelphia.

This reaction in the stock market could be attributed to several factors:

- **Debate Performance**: Investors and supporters of Trump might have perceived his performance in the debate as less favorable, leading to a sell-off in TMTG shares. The stock's movement often reflects not just the company's financial health but also the political sentiment towards Trump, given his significant ownership and the platform's alignment with his political activities.

- **Market Sentiment**: TMTG's stock has been described as behaving like a "meme stock," where its price is heavily influenced by social media sentiment and retail investor behavior rather than traditional financial metrics. Negative reactions or commentary on social platforms like X (formerly Twitter) could exacerbate price drops.

- **Political and Legal Environment**: Trump's ongoing legal challenges and political activities continue to influence investor confidence in TMTG. Any negative development or perception from the debate could amplify concerns about the company's future, especially if it's tied to Trump's political fortunes.

- **Fundamental Issues**: Despite the political drama, TMTG's fundamental business metrics, including revenue and profitability, remain weak. The company has reported significant losses, and its valuation often seems disconnected from its operational reality, which might make it more volatile to external events like political debates.

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[1] Url: https://www.dailykos.com/stories/2024/9/11/2269540/-Donald-Doubles-Down-on-the-pet-disinformation-in-the-debate-aftermath?pm_campaign=front_page&pm_source=more_community&pm_medium=web

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