President Trump's Truth Social stock experienced a significant surge on Friday morning following his debate with Joe Biden.
The stock, TMTG, owned by Trump Media & Technology Group, which operates the conservative social media platform Truth Social, jumped 13 percent in premarket trading. This increase brought the stock price to over $41 a share, rebounding from a 6.4 percent decline on Thursday.
The uptick followed what was obviously a strong performance by Trump in the CNN-hosted debate in Atlanta. Biden's performance was marked by a weak, hoarse voice, frequent pauses, and a lack of assertiveness, leading to a consensus that Trump was the clear winner of the debate. CNN polls Friday night showed over 2/3 of Americans believed Trump won.
With this rise in TMTG stock, Trump's stake is now valued at over $4.7 billion. He holds 64.9 percent of the company's shares.
