In a dramatic and volatile trading session, shares of Trump Media, the owner of Truth Social, experienced significant swings following the first U.S. presidential debate. With speculation that the social networking site could become a major platform for former President Trump if he is re-elected, investor sentiment played a crucial role in the stock's turbulent performance.

At the opening bell, Trump Media's stock surged by 5%, causing a wave of optimism among investors. However, the excitement was short-lived as the stock quickly plunged, maintaining its reputation as one of the most unpredictable stocks in the market. This fluctuation has become the norm for Trump Media, mirroring the stock's notorious volatility.

Meanwhile, the debate's impact was not limited to Trump Media alone. Political futures markets saw a notable decrease of 29% in Joe Biden's odds of retaining the Democratic party's nomination. Analysts from Citi also noted an increased interest in Trump Media & Technology, predicting that new headlines following the debate may fuel further attention towards the company.

Trump Media & Technology has encountered considerable turbulence throughout Trump's presidential campaign, including a significant swing following the former president's conviction in a hush money trial. A New York jury found Trump guilty of falsifying business records in connection with hush money payments made to a porn actor who claimed to have had a sexual encounter with him during the 2016 election.

Symbolized by the ticker "DJT," Trump Media & Technology has become notorious for its extraordinary volatility since its debut in late March. The stock joins the ranks of meme stocks, known for their wild swings as retail investors aim to capture rapid upward momentum. Throughout this year, the stock has tripled, regularly experiencing double-digit percentage shifts in a single day. Its intraday peak on March 26 reached nearly $80.

Despite the rollercoaster ride of Trump Media's stock price, the company endured losses of over $300 million during the last quarter, according to its first earnings report as a publicly traded entity. In contrast, the S&P 500 has maintained solid growth, posting a nearly 10% increase year-to-date.

As the presidential race heats up and new developments emerge, investors will undoubtedly keep a close eye on Trump Media & Technology, intrigued by the potential for growth and its role as a potential mouthpiece for the former president.

Disclaimer: The above article is based on information provided by the user and does not constitute financial, legal, or investment advice. The writer is not responsible for any trading decisions made based on this article.