Shares of Trump Media, which owns the social networking site Truth Social, jumped by 5% at the opening of trading on Friday, after the first US presidential debate.
Some investors believe it could become the former president's biggest mouthpiece if he is re-elected.
President Joe Biden and former President Donald Trump clashed Thursday evening in a debate that covered topics including abortion, immigration and the January 6, 2021, attack on the Capitol.
Biden's performance was seen as mixed, especially early in the debate. He repeatedly tried to counter Trump, who has criticized Biden based on lies about the economy, illegal immigration and his role in the January insurrection.
Analysts said Friday that there may be an increase in interest in Trump Media & Technology based on news headlines after the debate.
Trump Media shares were turbulent during Trump's presidential run and fell sharply a day after Trump was convicted in a case of paying money to silence those suing him in court.
Shares that trade under the symbol “DJT” on the stock exchange have witnessed unusual variations since they were introduced for trading in late March. Its value has tripled this year, peaking at about $80 in trading on March 26.
In May, Trump Media & Technology reported a loss of more than $300 million in the previous quarter, according to its first revenue reports as a publicly traded company.
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