Donald Trump, the U.S. Republican presidential candidate, and his Democratic rival Kamala Harris are set to engage in their first debate on September 10, 2024, hosted by ABC. Trump-backed Trump Media & Technology Group Corp (NASDAQ:DJT) stock is down Friday at premarket trading and has been volatile.
Trump Media stock has increased 74% in the last 12 months. Many attribute the stock's high valuation to Trump's direct involvement.
The Truth Social parent stock experienced significant volatility in July 2024, with various reports highlighting Donald Trump's popularity compared to President Joe Biden, especially following a debate where Biden seemed to struggle.
Biden officially confirmed his decision to withdraw on July 21, causing shares of Trump Media to decline by over 22%, from $34.99 on July 19 to $27.20 at the close on August 1. Reportedly, Trump's wealth dropped nearly $900 million after Harris replaced Biden as the Democratic candidate.
In a press conference at his Palm Beach, Florida residence, Trump announced that he is pushing for additional debates on September 4 and September 25, which would air on Fox Corp (NASDAQ:FOX) and NBC, Reuters reports.
However, Harris has firmly stated that her campaign opposes a debate on Fox, aligning with her party's stance that debates should be hosted by networks that have sponsored primary debates for both parties.
The race between Harris and Trump has seen fluctuations, with Harris recently widening her lead.
As the campaigns intensify, Harris has been focusing on labor support, particularly from auto workers, while Trump continues to engage with his base through media appearances and public events.
Trump held a press conference at his Mar-a-Lago residence in Florida on Thursday, which quickly devolved into a chaotic session, the Guardian reports.
During the hour-long event, Trump revisited his controversial stance on the January 6 Capitol riot, stating that "nobody was killed on January 6," a claim that contradicts the well-documented deaths and violence associated with the attack.
He also bizarrely claimed that the transfer of power to President Biden after the 2020 election was "peaceful" despite the insurrection.
Price Action: DJT stock was trading lower by 0.68% to $26.16 premarket at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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