Trump Media Stock Crashes in Sign of Struggling Election Prospects

Are Wall Street traders planning for a Kamala Harris win?

Trump Media & Technology Group stock was halted twice Thursday morning as its value dropped nearly 14 percent. Just the day before, the stock plummeted more than 20 percent after a multiweek rise, decreasing Donald Trump’s net worth by $1 billion.

Trump has 114.5 million shares, or roughly 57 percent, of TMTG, the media group that operates Trump’s right-wing social media platform Truth Social. Prior to Wednesday’s plunge, Trump Media was valued higher than Elon Musk’s X, as investors flocked to the meme stock.

In the real world, the company has been bleeding out, struggling to raise revenue and losing money. But experts say the share value is less a reflection of the credibility of the business and more a measure of traders’ expectations about the upcoming election.

“There are no fundamentals behind this company. It doesn’t have a path to profitability. It’s just driven by commentary, and by hopes and dreams,” trader Dennis Dick told Reuters in September.

The stock “currently serves primarily as a proxy for the election,” the research group S3 Partners wrote on Tuesday. “Trump and Media Group (DJT) stock, closely tied to Trump’s election chances, faces high squeeze risk due to limited float and elevated short interest.”

There’s no company news that caused the drop in the share price. So if the stock really is a barometer for the election, it seems like traders might be feeling the vibe shift.

Notably, Trump can now choose to cut his losses and sell his shares at any time. But, predictably, it seems he’ll bet on himself.

Elon Musk has managed to delay a legal case against his $1 million daily lottery giveaway to registered voters thanks to a Pennsylvania state judge.

At a hearing in the Keystone State on Thursday, Judge Angelo Foglietta said that a lawsuit from Philadelphia District Attorney Larry Krasner looking to stop the giveaway will be placed on hold until a federal court decides whether to hear the case. Musk’s legal team is arguing that the lawsuit raises questions about free speech and election interference more suited to federal law.

Musk was initially required to appear in court in Pennsylvania on Thursday but didn’t show up. Foglietta’s ruling not only overrules that requirement, but it allows the tech mogul’s America PAC to continue its giveaway to registered voters in the battleground states of Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin who sign a pledge supporting First and Second Amendment constitutional rights.

On his X platform Thursday, the tech mogul celebrated the ruling in a post reading “American Justice FTW,” as the ruling also pushes the lawsuit’s proceedings until after Election Day. Krasner was seeking to halt Musk’s scheme, calling it an “illegal lottery scheme to influence voters.”

In the lawsuit, Krasner argues that under Pennsylvania law, only the state can run a lottery for the benefit of the state’s seniors. Krasner also alleges that neither Musk nor the PAC has published clear rules for the giveaway or explained how they are protecting entrants’ personal information. The lawsuit questions whether the million-dollar winners are actually random, considering that two of them had attended Trump rallies.

Last week, after the Justice Department sent a warning letter to the PAC over concerns that the lottery violated federal laws against paying people to register to vote, it seemed as though the giveaway might stop. But after an apparent pause for one day, the PAC named two more winners, daring the government to take action. With Thursday’s court ruling, the Trump-supporting Musk appears to have gotten away with pushing the limits of election interference.

In an interview with The New York Times published Tuesday, Jared Kushner said there was “zero” chance he’d join his father-in-law Donald Trump on the last stretch of the campaign.

“We’re rooting for him—obviously, we’re proud of him. But, you know, either way, our life will just continue to move forward,” said Kushner.

However, that doesn’t necessarily mean that Kushner is done with politics or wouldn’t join Trump’s team in the case of a win.

In early October, journalist Michael Tracey asked current Trump transition co-chair Howard Lutnick who was in charge of advising the transition team. Lutnick couldn’t name a soul—except for Kushner.

“Jared Kushner is a big help to me … he’s absolutely helping me,” said Lutnick.

While Kushner previously said he wasn’t looking to return to the White House, he was heavily involved in sabotaging the 2020 transition and played an integral role in the 2016 transition team, alongside Steve Bannon and Mike Pence.

As Rolling Stone explained, “Kushner may be trying to stay out of politics publicly, but he is one of the few remaining Trump loyalists with first-hand experience on a transition.”

In an administration obsessed with loyalty, blood (even through marriage) is thicker than water.

MAGA is seething at the possibility of their wives voting for Vice President Kamala Harris.

This narrative took off after Liz Cheney urged women to “vote your conscience,” even if it meant keeping their vote for Harris a “secret” from their Trump-supporting husbands.

Over the last couple of months, there have been growing reports of grassroots campaigns reminding women that no one has to know how they voted. Post-it notes have been left in women’s bathrooms reading, “Woman to woman, your vote is private.” And a new pro-Harris ad from Vote Common Good this week featuring a voiceover from Julia Roberts shows two women at the polls sharing an understanding gaze as they cast their ballots for Harris while their pro-Trump husbands cluelessly egg them on.

This development has deeply disturbed MAGA husbands everywhere.

Perhaps no one better portrayed the MAGA meltdown than Fox News anchor Jesse Waters on Wednesday evening.

“If I found out [my wife] Emma was going into the voting booth and pulling the lever for Harris, that’s the same thing as an affair,” yelled Watters, who cheated on his first wife with Emma, then his 25-year-old employee. “That violates the sanctity of our marriage. What else is she keeping from me? What else has she been lying about?

“It’s over, Emma! That would be D-Day.”

“It is so repulsive. It is so disastrous. It is the embodiment of the downfall of the American  family,” Turning Point USA founder Charlie Kirk said on the Megyn Kelly Show after seeing the Roberts ad. “I think it’s so gross. I think it’s just so nauseating.”

Conservative content creator Mike Cernovich struck a similar chord. “Unless this changes, Kamala Harris takes PA and it’s over.” It seems that the men of MAGA feel as entitled to their wives’ votes as they do their reproductive rights.

The leaders of the MAGA movement are apparently on a mission to sow as much election misinformation as possible.

Republican vice presidential pick JD Vance followed in Donald Trump’s footsteps on Thursday, elevating voting conspiracies to his more than two million followers on X (formerly Twitter).

“If you are in line, stay in line! If someone tells you to get out of line or to go home, take a video of them!” wrote Vance. “If you commit voter fraud, or try to deprive people of their right to vote, we will prosecute you!”

The Ohio senator was responding to another post made by Trump campaign director James Blair, who claimed that Democrats were illegally shutting down a polling station in Quakertown, Pennsylvania, based on a video in which an unidentified woman wearing a “voter protection” badge from PADems instructed a voter to speak with a nearby police officer about the station’s changed availability for obtaining a mail-in ballot.

“The reason why it had to close is because a high volume of people want to do this, it’s slow and grueling ... they had to cut the line at 1:45,” the officer can be heard saying in the video.

Earlier that day, Bucks County, Pennsylvania, officials responded to criticism over the long lines for mail-in ballots, writing in a post on X that all voters who had joined the line before 5 p.m. would be able to receive a mail-in ballot.

The delays are, in part, thanks to a law passed by the Republican-controlled state legislature in 2019, which allowed most Pennsylvanians to vote by mail so long as they filled out an application at their county elections office.

But that process can take about 10 to 12 minutes per person, Bucks County Board of Elections Chairman Bob Harvie told CBS News.

“It is a very cumbersome process. We don’t have limitless resources here. We have a fixed number of staff. We have a fixed budget,” Harvie said.

But the filmed volunteer, who was hounded by the Trump campaign’s far-right allies, did nothing wrong according to Pennsylvania law, which permits poll watchers to stand outside of registered polling places. Volunteers can also monitor from inside the facility so long as they obtain a certificate from their local county board of elections and don’t overlap with other poll watchers monitoring on behalf of the same candidate.

The Trump-Vance campaign has kept a sharp eye on Bucks County this week. On Wednesday, the ticket announced that it had filed a lawsuit over alleged voter suppression in Pennsylvania, claiming without evidence that Bucks County was preventing Trump voters from participating in the 2024 election.

Speaking at a rally in Allentown, Pennsylvania, the night before, Republican National Committee co-Chair Michael Whatley claimed that the Keystone State had been “turning away our voters.”

The campaign did not point to any instance in particular that led it to believe that voters had been treated unfairly in Bucks County, but county officials had observed that there were complaints on social media (shared by the Trump campaign) about long lines to obtain mail-in ballots on Tuesday, the last day of their availability.

But Trump chose to stoke the flames Wednesday morning, posting on Truth Social that “Pennsylvania is cheating, and getting caught, at large scale levels rarely seen before.”

If Donald Trump wins, the conservatives behind the Project 2025 manifesto have a plan to go after pro-Palestine activists.

The Heritage Foundation, a right-wing think tank, has crafted the “Project Esther” plan to go after what it calls the “Hamas Support Network,” Drop Site News reports. To these conservatives, organizations such as American Muslims for Palestine, Jewish Voice for Peace, and National Students for Justice in Palestine are part of the so-called network. Even more mainstream groups are also singled out, including the Open Society Foundation, the Tides Foundation, and the Rockefeller Brothers Fund.

The plan claims that these organizations and pro-Palestine advocates receive “indispensable support of a vast network of activists and funders with a much more ambitious, insidious goal—the destruction of capitalism and democracy.” The plan to crush the pro-Palestine movement includes using counterterrorism and sanctions laws to overrule constitutional freedoms, including the First Amendment.

The plans would include deporting international students and others on foreign visas if they take part in pro-Palestinian activism, as well as charging people under the Foreign Agents Registration Act, which requires people representing foreign interests to disclose their funds and activities. The plan also suggests using RICO statutes, typically used against organized crime, to help prosecute leading pro-Palestine organizations.

Project Esther outlines a series of steps: going after “propaganda” in schools, pursuing intimidation tactics to stop students from joining demonstrations, and restricting communication, coordination, and meetings between pro-Palestinian groups. The plan envisions a point at which most of the Jewish community and the general public perceive pro-Palestine groups “as a threat to their safety.” The whole process would be successful “within 12 to 24 months,” according to the plan.

The disturbing part of this plan is that many of its tactics are not new: They are simply escalations of what is already happening. The RICO act was used last year against people protesting against “Cop City,” a police training facility in Georgia, and the Biden administration declared a Palestinian prisoner solidarity movement a terrorist group earlier this month.

The plan counts many conservative groups, including In Defense of Christians, the Family Research Council, the Philos Project, the America First Policy Institute, Concerned Women of America, and Regent University, among its supporters. In recent weeks, several Jewish groups have distanced themselves from the project due to its conservative ties.

Democrats have been broadcasting Project 2025’s disturbing plans throughout the 2024 election campaign. Project Esther takes those plans further to target First Amendment rights to squash a protest movement in the name of fighting antisemitism, while promoting prejudice against Muslims and Arab Americans. Democrats should oppose Project Esther just as much as Project 2025.

Beatrice Keul, a Swiss former pageant queen, has become the twenty-eighth woman to accuse former President Donald Trump of sexual misconduct.

Keul told The Daily Mail that she met Trump in 1993 after getting second place in Miss Switzerland and participating in the Miss Europe competition the year before. She caught Trump’s attention, and he offered her an all-expenses paid trip to New York to participate in the Donald J. Trump American Dream Pageant.

Trump approached her at an event at the Plaza Hotel in Manhattan, and they talked for about 15 minutes. Afterward, one of Trump’s assistants told Keul that Trump wanted a “private meeting” with her. She went, and Trump allegedly “jumped” on her as soon as she entered the room.

“I was not prepared. I tried to do what I could to get rid of him. “He kissed me on the lips and on the neck. He tried to lift my dress,” Keul told The Daily Mail. “He was grabbing and touching my body everywhere he could.” She thinks that her height (six-foot-one) was what helped fend him off.

Keul tried to get Trump to stop by asking him if they could talk, and they did for the next 30 minutes. He asked to see Keul again, and she agreed.

“I was in a foreign country. I was scared that I could not go home, or I couldn’t come back,” Keul said. “I was scared of everything, and when you’re scared, you say whatever it takes to save yourself.”

Keul is the second woman this election cycle to come forward. Stacey Williams last week told the media that Trump had also groped her in 1993, with Jeffrey Epstein watching. The Trump campaign has denied both allegations.

Vaccine science doesn’t appear to have a bright future in a potential second Trump administration.

Speaking with CNN on Wednesday night, Trump transition co-chair Howard Lutnick repeatedly rejected the idea that vaccines are safe and suggested that there could be a future where the lifesaving medical tool is restricted from the market.

During one particularly heated moment with host Kaitlan Collins, Lutnick insisted that vaccines are “not proven” and shared that he had a more than two-hour conversation with notorious vaccine skeptic Robert F. Kennedy Jr. on the issue. Lutnick claimed that Kennedy—who has admitted that his brain has been eaten by worms and who posed a slashed-up dead bear cub in Central Park as a weird practical joke—would like to strip even long-standing vaccines from the market.

That isn’t just an empty threat from a failed presidential candidate: On Monday, Kennedy claimed that Donald Trump had promised him “control” of several federal agencies, including the Department of Health and Human Services. That level of control implies a Cabinet position, which would be difficult to obtain for Kennedy, considering that it would require Senate confirmation. But Lutnick outright rejected the notion that the renowned conspiracy theorist would be handed such a position if Trump returned to power.

“What he explained was, when he was born, we had three vaccines,” Lutnick recalled about his conversation with the 70-year-old wannabe politician, before going on to claim that autism rates at the time were “one in 10,000” and falsely insisting that newborns today are given 76 vaccines.

But Kennedy’s—and by extension, Lutnick’s—flagrant vaccine claims are plainly false. Dozens of vaccines had been invented by 1954, when Kennedy was born, preventing the societal spread of horrific illnesses such as bubonic plague, lockjaw, and tuberculosis. Autism itself has been routinely misdiagnosed and miscategorized since it was first described by Eugen Bleuler as part of a larger, outdated understanding of schizophrenia in 1911. It was later reclassified as a spectrum in 1994 in the DSM-IV, vastly widening the diagnosis.

And as for Lutnick’s assertion that babies receive countless vaccines at birth: Doctors recommend immunization for just a handful of diseases at that young age. Babies inherit some antibodies from their mothers during pregnancy from the vaccines that adults receive over the course of their own lives, but those antibodies begin to wear off about a year into the child’s life, according to the American Academy of Pediatrics, which recommends that children begin their vaccinations for illnesses including polio, diphtheria, the flu, and ​​hepatitis B before they’re a year old.

Still, Lutnick wasn’t against just handing over American’s private health information to such an ungrounded figure.

“Let’s give him the data,” Lutnick told Collins. “I think it would be pretty cool to give him the data … he just wants data and to prove things are wrong.”

“He had to apologize for tying vaccine questions to what happened in Germany during the Holocaust,” Collins responded.

Vaccines have proven to be one of the greatest accomplishments of modern medicine. The jabs are so effective at preventing illness that they have practically eradicated some of the worst diseases—from rabies to polio and smallpox—from our collective culture, a fact that has possibly fooled some into believing that the viruses and their complications aren’t a significant threat for the average, health-conscious individual.

House Speaker Mike Johnson promised to take away your health care. Now he’s trying to pretend that he didn’t say just that.

“They took a clip out of context and said that I said we were promising to repeal Obamacare,” Johnson told Fox Business on Thursday morning. “That’s just not what I said, it’s actually the opposite of that.”

But on Monday, Johnson shared his message clearly to a crowd in Pennsylvania: “No Obamacare.”

Johnson was speaking about health care reform on the campaign trail on behalf of Donald Trump. The House speaker promised that if Trump is elected, the Republicans will undertake a “massive reform” of the Affordable Care Act in their first 100 days.

“No Obamacare?” asked a voter. Johnson confirmed the request, laughing, and followed up by declaring that “the ACA is so deeply ingrained, we need massive reform to make this work, and we’ve got a lot of ideas on how to do that.

“We want to take a blowtorch to the regulatory state,” Johnson said, threatening to strip health care for nearly 50 million Americans currently covered by the ACA and suggesting that “health care is just one of [the] sectors” that needs major cuts, echoing Trump’s and Elon Musk’s calls to slash $2 trillion from the government’s budget—no matter the impact on everyday Americans.

Now Johnson is accusing Democrats of putting words in his mouth. “They’re twisting our words,” he told Fox on Thursday.

Trump famously said he only had “concepts of a plan” when it came to replacing Obamacare. But even those concepts are frightening: His running mate, JD Vance, has said the current plan coming out of a potential second Republican administration would allow health insurance companies to charge more for preexisting conditions.

“Speaker Mike Johnson is making it clear—if Donald Trump wins, he and his Project 2025 allies in Congress will make sure there is ‘no Obamacare,’” a spokeswoman for Kamala Harris’s campaign told The New York Times. “That means higher health care costs for millions of families and ripping away protections from Americans with preexisting conditions like diabetes, asthma, or cancer.”

Former President Donald Trump took his promise to protect women to a creepy new level Wednesday evening, claiming he’d do so “whether the women like it or not.”

Wearing an orange garbage collector vest from a failed photo-op earlier in the day, Trump, speaking at a campaign rally in Green Bay, Wisconsin, complained about his advisers telling him to stop saying he would “protect women.”

“They said, ‘We think it’s very inappropriate for you to say. I said, ‘Why? I’m president.’ I want to protect the women of our country.... Well, I’m gonna do it whether the women like it or not. I’m gonna protect them. I’m gonna protect them from migrants coming in, I’m gonna protect them from foreign countries that want to hit us with missiles and lots of other things.” The crowd erupted with cheers.

“Are there any women who want to be protected by the president?”

The backlash has been swift. “Donald Trump thinks he should get to make decisions about what you do with your body. Whether you like it or not,” Vice President Kamala Harris tweeted. “Alex, I’ll take things rapists say for $300,” said Moms Demand Action founder Shannon Watts. Others pointed out that Trump was accused of sexual assault by yet another woman just last week.

These words ring hollow from a man with more than 20 sexual assault allegations. They also contradict all of his positions on women and their agency. Trump boasts about overturning Roe, is OK with criminalizing doctors, and wants to leave abortion completely up to the states, making large swaths of the country much more dangerous for women who need access to abortion to stay alive. What kind of protection is that?