On the heels of the Trump/Biden presidential debate, shares in Trump Media & Technology (NASDAQ: DJT ) surged in after-hours trading. However, it promptly nosedived after the markets opened. But does Trump’s debate win mean the stock is worth buying, or are there stocks to buy instead of Trump Media that capture both political will and emergent social media opportunities? From a purely operational success standpoint, and not accounting for its meme stock status, Trump Media is cooked.
Though the initial premise of Truth Social as a free speech platform once held promise, after X realigned its moderation policies there’s little benefit to yet another social media platform. Moreover, the most important demographics — younger users who are happy to use social media as a shopping platform — stick to more familiar names. Trading at 1,200x sales today and facing dwindling download rates alongside reduced user engagement, these stocks to buy instead of Trump Media offer what the platform once promised with improved operational outlooks to boot.
Rumble (RUM) Viewers flocked to Rumble (NASDAQ: RUM ) this week to catch the Presidential Debate as the platform attracted a broad range of watchers just as interested in their favorite pundit’s opinion as the debate itself. This wide-ranging user base and improved content moderation perspectives, compared to alternatives like YouTube, are what set Rumble apart. They also make it a core component of the stocks to buy instead of Trum.