Trump lost more than $200 million after the first debate with Harris

According to The Guardian, right after the debate between Mr. Trump and Ms. Harris, shares of former US President Donald Trump's media company Trump Media & Technology Group (TMTG) fell sharply by 17% to $15.3/share, the lowest level since its listing.

By the end of the session, the stock showed signs of recovery but still closed at $16.6, down 10%.

The continuous decline in the media company's shares has reduced the value of the former US president's shares in TMTG to only 1.9 billion USD, down more than 4 billion USD compared to early May.

According to Forbes , Mr. Trump has a net worth of 3.8 billion USD, down 224 million USD from the previous day.

TMTG shares sold off immediately after the two US presidential candidates, Mr. Donald Trump and Ms. Kamala Harris, had their first debate on ABC . Analysts said the market then acted as if Ms. Harris had won the debate.

Trump-linked investments have all lost value. Some funds holding clean energy stocks have surged as the former US president has pushed for increased fossil fuel extraction.

Mr. Donald Trump and Ms. Kamala Harris had their first debate on ABC (Photo: ABC).

Trump’s TMTG has been losing money and struggling to grow revenue recently. According to regulatory filings, the company lost nearly $58.2 million last year while generating just $4.1 million in revenue.

The company also reported a loss of $16.37 million in the second quarter of this year, its third consecutive quarter of revenue below $1 million. However, the company’s market capitalization remained at $3.3 billion on the stock market.

Michael Block, chief investment officer at AgentSmyth Financial, said the sell-off in Trump Media shares was related to what investors saw during the debate.

"Investors are interested in this stock because of the story, not its growth or value. They may not like the story the former president told during the debate," the expert told CNN .

Experts have repeatedly warned investors about Trump Media stock. They say Wall Street has overestimated the company. In addition to losses and modest revenue, Truth Social also has a much lower user base than other social media giants.

Source: https://dantri.com.vn/kinh-doanh/ong-trump-mat-hon-200-trieu-usd-sau-cuoc-tranh-luan-dau-tien-voi-ba-harris-20240912204304780.htm