DJT shares pull back after sharp rise following Biden stumble in Trump debate

The Truth Social app owner’s share volume was heavy, with nearly 14 million shares changing hands.

Trump, the former president who is the presumptive Republican nominee, owns almost 65% of Trump Media shares. The company’s market capitalization was around $6.5 billion as of Friday despite having meager revenue.

Political observers and Democratic donors said Biden, 81, gave a dismal performance on Thursday night in his debate against Trump at CNN’s studios in Atlanta. Biden’s speech was garbled at times. He also lost his train of thought, and his face looked blank with his mouth agape at times as Trump spoke.

One major Democratic fundraiser told CNBC that Biden’s performance was a “disaster.”

“This is terrible. Worse than I thought was possible. Everyone I’m speaking with thinks Biden should drop out,” that donor said.

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