Trump Media & Technology Group Corp (NASDAQ:DJT) stock has been in recovery mode since Tuesday after plunging on Monday, upon the expiration of a lockup period that prevented leading shareholders, including Donald Trump, from selling shares and his rejection of a second debate with Vice President Kamala Harris.
The Republican presidential nominee holds a 57% stake in the Truth Social parent worth nearly $1.5 billion, CNBC reports from Trump’s speech at Savannah on Tuesday.
Trump continues to woo voters with his pro-American policies, including a “manufacturing renaissance,” “substantial tariffs” on imported goods and proposed special manufacturing zones on federal land with ultra-low taxes and regulations for domestic producers, NRP reports from Savannah.
Trump promised to bring millions of jobs back to the U.S. from overseas and slash the corporate tax rate for domestic producers from 21% to 15%. He sees blanket tariffs of 10%-20% on all imports and tariffs of 60% or more on goods from China, according to Reuters reports from Savannah.
Trump assured support for the oil and gas industry by backing new pipelines, restoring fracking on federal land, and putting Alaska’s Arctic National Wildlife Refuge, where the Biden administration canceled oil and gas drilling leases. He promised to consider ending a $7,500 tax credit for electric vehicle purchases.
Trump proposed slapping 100% tariffs on every car across the U.S.-Mexico border while rewarding domestic manufacturers with R&D tax credits.
Experts told Reuters that Trump’s tax cut plans would add $3.6 trillion to $6.6 trillion to federal deficits over a decade. Harris’ spending and tax break plans could reduce the deficits by $0.4 trillion or increase them by up to $1.4 trillion over ten years.
Trump Media stock, which prices in Trump’s every move, plunged over 41% in the last 30 days.
Price Action: DJT stock is up 5.55% at $13.50 premarket at the last check Wednesday.
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