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Donald Trump’s support margin declined on Wednesday at bookmakers after a televised presidential debate that many observers believe he lost to Kamala Harris, with shares in his media group also falling.
“While it is too early for new polls to be released, the underlying reaction from bettors is that Vice President Harris had a strong lead in last night’s debate against former President Trump,” commented analysts at Brown Brothers Harriman.
The Democratic candidate had been trailing her Republican rival in recent days, according to statistics from the online betting platform “SmartSmart”, but she came out ahead of him in the debate.
On Wednesday, her chances of winning the election, based on bets recorded by the site, were 51.2% compared to 48.1% for Donald Trump.
On Tuesday, the former president had a 52.3% chance of winning, compared to just 46.3% for Kamala Harris.
Harris, a former California senator, was also ahead of online betting platform Bovada or Britain’s Bet365.
Bet365 believes that “if this trend continues, the Democratic candidate will be the favorite to win the November elections.”
In this context, investors witnessed a decline in the stock of Donald Trump’s media group, Trump Media and Technology Group (TMTG), which fell by 12.27%.
The stock hit its lowest level since TMTG merged with a publicly traded company on March 26. Since hitting that peak that day, it has fallen about 80%.
Investors gradually moved away from the stock after Donald Trump resumed posting messages on X, a rival platform to his Truth Social network, which is headed by TMTG.
They have also distanced themselves from the group since Joe Biden dropped out of the White House race in favor of Kamala Harris and the vice president’s rise in the polls.
As of the end of September, Trump will be able to sell all or part of his shares on the market. He currently owns about 57% of TMTG shares.
As the stock fell, the value of his stake fell by more than $7 billion, and is now worth about $1.9 billion.
