Trump Media & Technology Group Corp (NASDAQ:DJT) stock is trading lower on Monday. The Republican Presidential candidate Donald Trump-backed stock had a volatile ride, marking a 52-week high of $79.38 (post-SPAC merger high) and a low of $22.55.

Last week, the company reported its second-quarter financial results. The Truth Social parent reported second-quarter revenue of $0.84 million. It recorded $2.3 million in interest income.

The company ended the second quarter with a cash balance of $344 million. It reported a GAAP net loss of $(16.4) million.

Trump Media & Technology Group stock gained 52% in the last 12 months, with many attributing the stock's high valuation to Trump's direct involvement.

Meanwhile, the 2024 Presidential election race has heated up, especially with President Joe Biden withdrawing his candidature.

Recent reports indicated Democratic Presidential candidate Kamala Harris has turned to her California roots and elite donors to bolster her bid for the White House. During a stop in San Francisco on Sunday, the vice president attended a fundraiser that has become a crucial source of tech money, drawing support from influential figures in Silicon Valley and Hollywood, the Wall Street Journal reports.

Nearly 700 people gathered at the Fairmont Hotel for the event, which raised more than $13 million.

Harris spoke on various issues, including gay rights, abortion, and gun violence, seeking to connect with West Coast voters as she builds her campaign's war chest.

Trump and Harris will participate in their first debate on September 10, 2024, hosted by ABC.

Price Action: At the last check on Monday, DJT stock was trading lower by 2.59% to $25.57 premarket.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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