Donald Trump’s odds have fallen on betting platforms after his phone fight with Kamala Harris, which many observers believe he came out on the losing end, while his group’s stock is also falling.
“It is still too early for new polls to be released, but initial reaction from bookmakers suggests that Harris had the upper hand in last night’s telefight against former President Trump,” analysts at Brown Brothers Harriman commented.
The Democratic candidate, who in recent days was trailing her Republican opponent, according to the online betting platform Smarkets, came out on top. Around 17:30 (Greece time), her probability of electoral success was 51.2%, compared to 48.1% for Trump. As of Tuesday morning, the former president was credited with a 52.3 percent chance of winning the election, compared to just 46.3 percent for Kamala Harris.
The former senator from California also leads betting platforms Bovada and Bet365. “If this trend continues, the Democratic candidate will be the favorite to win the November election,” British Bet365 estimated today.
Also, immediately after the telefight, the stock of Trump’s media conglomerate, Trump Media and Technology Group (TMTG), was down 12.27%. Since March 26, TMTG stock has lost nearly 80% of its value. Investors gradually moved away from the group after Donald Trump started posting again on the X platform (formerly Twitter) which competes with his own Truth Social. They also distanced themselves from the group after Joe Biden dropped out of the presidential race and was replaced by Kamala Harris. At the same time, the end of the lock-up period is approaching, during which investors who owned shares before the company went public cannot sell them. From the end of September Trump will be able to sell all or part of his shares in the market. Today he owns approximately 57% of TMTG shares.
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