Trump Media shares fall to new post-merger low, despite ex-president's claim he won debate

Shares of Trump Media continued to sink on Thursday, closing at a fresh low, following Tuesday's presidential debate between its majority shareholder, former President Donald Trump and Democratic Vice President Kamala Harris.

The stock fell 3.6% over the day and closed at $16.07 per share — its lowest close since the company's public trading debut on the Nasdaq in March.

Shares of the Truth Social owner, which trade under the ticker "DJT," are down nearly 14% since the debate Tuesday night in Philadelphia, hosted by ABC News.

The Harris campaign has called the debate a win for the Democrat, as have pundits and strategists on both the political left and the right. Trump has repeatedly claimed that he came out on top in Tuesday's face-off.

But the slide in Trump Media shares — which often rise and fall in line with Trump's political fortunes — suggests that investors may not be convinced that Trump won the debate.

In a Thursday afternoon post on Truth Social, the Republican nominee announced he would not be doing another debate.

Harris had challenged Trump to a second round moments after the candidates left the stage Tuesday night. But Trump, claiming victory Thursday, wrote, "THERE WILL BE NO THIRD DEBATE!"

DJT's plunge this week is the latest chapter in the stock's months-long slide.

Shares of Trump Media are down about 60% since their most recent surge in July, after failed assassination attempt on Trump. The stock is down about 78% since it merged with a special purpose acquisition company and began publicly trading in March.

The former president owns nearly 57% of Trump Media's stock. Later this month, he will have the opportunity to sell his stake when the "lock-up" restrictions that prevent him from selling his shares are lifted. It is unknown whether Trump will choose to sell or hold his shares.

After Thursday's close, the company's market capitalization stood at $3.2 billion.