The shares of Trump Media (DJT) were halted during the trading session on Thursday due to a significant drop, leading to a 31% decrease in value in just a span of two days.
As the trading floor faced turmoil, the likelihood of Kamala Harris winning the election surged by 7 percentage points from 35% to 42% on Thursday, as shown in Kalshi, an American financial exchange and official prediction market for the US election race.
Market reactions were intense as DJT stock encountered two trading halts amidst a rapid decline in share value at the onset of a volatile trading session. The stock closed on Thursday with a two-day downward trend, settling at $35.34 per share. Despite this, after-hours trading indicated a potential recovery for DJT on Friday.
Despite the recent plummet, DJT has experienced a remarkable 120% surge in the previous month, reflecting sentiments towards a potential Trump victory in the election. The odds are still in favor of Donald Trump with a 58-42 lead.
Conversely, a Reuters survey unveiled a tighter competition with Trump ahead of the Democratic candidate by 49.3 to 46.7, indicating a neck-and-neck race.
With the election looming less than 4 days away, uncertainties and market jitters continue to persist.
