Trump Loses Momentum with Harris' Appearance... All Theme Stocks Weakening

Trump Media & Technology Group Stock Hits Lowest Since IPO
Trump SNS as a Representative Trump-Themed Stock
Other Themed Stocks Also Weakening

Recently, in various U.S. presidential election polls, Democratic candidate Vice President Kamala Harris has shown an advantage over Republican candidate former President Donald Trump, causing the so-called 'Trump theme stocks' to weaken.

The stock price of Trump Media & Technology Group (ticker symbol DJT), where former President Trump is the major shareholder, closed at $20.10 on the 28th (local time), down 4.25% from the previous trading day, marking its lowest price since its listing on the New York Stock Exchange in March. During the session, it even fell below $20.

DJT is the parent company of the social networking service (SNS) Truth Social, founded by former President Trump, and is a representative 'Trump theme stock.' Although it is a deficit company, recording a net loss of $16 million in the second quarter results released earlier this month, its stock price has surged sharply whenever events that could increase former President Trump's chances of winning occur. For example, after former President Trump was shot during a campaign last month and his support base rallied, the stock price soared 31.37% on the 15th of the same month.

However, after President Joe Biden withdrew from the Democratic presidential candidacy on the 21st of last month and Vice President Harris emerged as the next candidate, DJT's stock price has plummeted about 43% to date. According to a nationwide poll conducted by Morning Consult from the 23rd to the 25th with 7,818 voters, Vice President Harris shows a 48% approval rating, 4 percentage points higher than former President Trump. Unlike the initial polls that were close, the gap is widening, which analysts say has led DJT's stock price to follow a downward trend.

Other Trump theme stocks are also struggling. On the same day in the New York Stock Exchange, the stock price of Rumble, a conservative content sharing platform, fell 2.18%, and Funware, a software company that designed former President Trump's 2020 campaign app, dropped 3.66%. Looking at their stock price trends over the past month, they have fallen 8.32% and 28%, respectively.

Meanwhile, the lock-up period for DJT insiders, including former President Trump, will end on the 20th of next month. In the U.S., the lock-up period is set at six months, and the end of the lock-up period is generally considered a factor that puts downward pressure on stock prices.

This content was produced with the assistance of AI translation services.