After TV Debate Loss Fallout... Trump SNS Stock Plummets 10%

TMTG, Parent Company of Truth Social, Stock Falls 10.5%
CNN Poll... 63% Respondents Say "Harris Wins"
Trump: "ABC News Is Dishonest and Biased"

Donald Trump, the former U.S. president and Republican presidential candidate, saw the stock price of his social networking service (SNS) company plunge more than 10% following analyses that he lost to Democratic candidate Vice President Kamala Harris in the presidential TV debate. Within the Republican Party, a gloomy atmosphere quickly spread due to disappointment over Trump's defeat in the TV debate.

On the 11th (local time) in the New York stock market, Trump’s SNS parent company, Trump Media & Technology Group (TMTG), which owns Truth Social, closed at $16.68 per share, down 10.47% from the previous trading day.

The stock price slid after evaluations emerged that Trump struggled in the presidential TV debate held the previous day in Philadelphia, Pennsylvania, a battleground state. TMTG, which was listed on the New York Stock Exchange in March, is a company in which Trump holds 114.75 million shares, with his stake valued at $1.914 billion (about 2.565 trillion KRW). So far, TMTG’s stock price has fluctuated depending on Trump’s chances of winning the election.

According to a poll conducted immediately after the TV debate the previous day, voters gave high marks to Vice President Harris. A CNN survey commissioned to SSRS of 605 respondents showed that 63% of respondents judged Harris to have won the debate. Only 37% said Trump had won. Before the debate, the chances of victory for both candidates were evenly matched at 50% each.

A poll conducted by YouGov on the same day also favored Vice President Harris. Among about 3,300 respondents, 43% evaluated that Harris had a clearer plan. Only 32% said Trump’s plan was clear. Twenty-four percent of respondents answered that they did not know.

According to Real Clear Polling, which aggregates U.S. presidential election polls, as of that day, Vice President Harris’s probability of winning was 51.1%, while Trump’s was 47.3%.

Within the Republican Party, disappointment over Trump’s poor performance in the TV debate was widespread. According to The Hill, a Republican member of the House of Representatives said, “Harris knew exactly how to get under Trump’s skin,” and added, “Overall, I was disappointed that he was not calmer like he was in his first debate (against President Joe Biden).”

Trump blamed ABC News, which hosted the debate, for his poor TV debate performance. In an interview with Fox News that day, he said ABC News was “very dishonest and biased,” while he said CNN, which hosted the debate at the end of June, was “fair and honorable.”