Trump Media stock jumps after presidential debate

Shares of Trump Media & Technology Group (DJT) are jumping on Friday morning after the first presidential debate between President Joe Biden and former President Donald Trump. Biden showed signs of struggle in his performance, starkly contrasting Trump's energy.

Yahoo Finance Anchors Brad Smith and Seana Smith break down the latest developments for Trump Media and what they could mean for the company moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Nicholas Jacobino

Video transcript

Time for some trending tickers.

Trump Media shares moving higher on the back of last night's presidential debate.

The move comes after President Biden's performance raised concerns among Democratic voters.

I believe you were taking a look at the stock action from yesterday extended hours here this morning.

We had seen DJ T actually moving higher here, um, by about 8%.

And so, as we're continuing to take a look at that longer term chart as well, it is worth noting that there has been some slippage, especially over the course of the last month, where it's down some 20 plus percent and year to date.

It's still holding on to some very solid gains, but it's a larger question of what profitability looks like for this company.

And if that even matters, it's so detached from fundamentals because of where investors are using this as a proxy for their own support of president former President Trump.

It certainly does trade independent on fundamentals.

Even when you take a look at it, just a five day chart.

You're looking at a stock that has soared more than a third here and then up another 8% here ahead of the open.

So again, we're seeing once again that investors are pouring their money into the stock.

And we know that the stock, like you just said, tends to trade around the sentiment surrounding former President Trump rather than the fundamentals.

So I think the early reaction, whether or not this sticks here.

But the early reaction, obviously, was that former President Trump came out on top.

At least when you're talking about this debate, lots of questions from Democrats.

Just about what exactly that path forward looks like for President Biden at this point.

So as a result of that, we're seeing a Trump media stock here move to the upside here at the Open.