Joe Biden Mocks Donald Trump for the Stock Market’s Decline During His Campaign Speech

President Joe Biden blasted the former POTUS Donald Trump in a recent speech. The personal dig taken by Biden on Trump media's downfall amid the recent news of the stocks making it big in the market created huge buzz. After a promising start on the NASDAQ stock exchange last month, Trump Media and Technology (DJT) company faced a significant setback when negative financial disclosures caused a sharp decline in its stock price, resulting in a 21.47% decrease in value.

This downward trend has persisted over the following weeks, with the stock plummeting nearly 68% since its initial trading, equating to approximately $5 billion in paper losses. During a campaign speech in Scranton, PA, Biden said, "We’re not asking anything unusual. Under my plan, nobody earning less than $400,000 will pay an additional penny. I hope you’re all able to make $400,000. I never did. But they’re not going to pay an extra penny in federal taxes. That’s a promise. Nobody. Not one penny."

Adding further he said, "You know, I have to say, if Trump’s stock in the– Truth Social, his company, drops any lower, he might do better under my tax plan than his! It’s possible. Possible. Folks, look. I want to cut tax on the hardworking folks here in Scranton and all across the country, and climb out where I move from Scranton to Claymont and Delaware all across the country." As part of Biden's assertive strategy, he has been increasingly targeting Trump, evident in his recent remarks at a high-profile fundraiser and other events. Biden hasn't shied away from teasing Trump about his age, golf skills, and financial struggles, even weaving a recurring anecdote where he portrays Trump as a down-and-out figure grappling with money woes.

According to The Hill, Trump Media & Technology Group, the parent company of Truth Social, experienced significant losses in the stock market despite a promising launch last month. Initially, shares soared above $79 on the first day of trading but dropped to $62 by the end of the week. Just before Tuesday's market close, Truth Social's share price plummeted by over 13% to nearly $23. Responding to Biden's speech Trump wrote on Truth Social, "Seeing as President Joe Biden regularly posts to his campaign account on Truth Social, we have faith he sees the value of a free-speech social media start-up that has no debt and more than $200 million in the bank."

According to The NY Times, Biden also criticized Trump by saying, "Donald Trump looks at the world differently than you and me. He wakes up in the morning at Mar-a-Lago thinking about himself. How he can help his billionaire friends gain power and control, and force their extreme agenda on the rest of us." A spokesperson for Trump said, "President Trump proudly passed the largest tax cuts in history. Joe Biden is proposing the largest tax hike ever."