Trump Media shares plunge to record low after debate: NPR

Even some of former President Donald Trump's most ardent supporters seem concerned that he lost Tuesday's debate with Vice President Kamala Harris.

Shares of Trump Media & Technology Group, the parent company of Trump's Truth social network, plunged more than 16 percent to a record low on Wednesday morning. By the afternoon, shares had recovered somewhat but were still down more than 12 percent.

Trump Media shares have been extremely volatile since their IPO in March, as their performance has become something of a weather vane for the former president's election prospects on Wall Street. Trump owns nearly 60 percent of the company, and his other investors tend to among his most ardent supporters.

But it's not just Trump Media shareholders who appear to be giving Harris the edge in yesterday's debate. According to several closely watched stock market indicators, investors generally seem to believe the vice president has improved her chances of winning in November.

Prices of Bitcoin and several cryptocurrency-related stocks, including Coinbase, also fell on Wednesday morning before partially recovering by the afternoon.

Trump has championed cryptocurrencies this election cycle and is widely seen as the pro-crypto candidate. (Harris has also received some support from crypto investors, but has been less outspoken about digital currencies than Trump – who also reportedly involved when starting a crypto company.)

Meanwhile, online bettors also believe that the odds are now in Harris' favor: Users of the online betting market Predictions Her chances of winning rose to 55 percent by Wednesday afternoon, while Trump's chances fell to 48 percent.

Other betting markets were more cautious, but are still putting their money on Harris after the debate: She overtook Trump on Wednesday at online bookmakers, according to a Average from betting markets by RealClearPolitics.