Former US President Donald Trump makes an announcement of his plans to run for president in the 2024 US presidential election at his Mar-a-Lago estate in Palm Beach, Florida, US on Nov 15, 2022.Shares of companies tied to former US President Donald Trump reversed course to fall on Wednesday , following a recent rally in the run-up to him launching a bid to regain the presidency in 2024.
"The likelihood of a Trump victory has been slimmed after the Trump-supported candidates failed in the latest midterm elections. Therefore, I believe that the knee-jerk reaction will remain short-lived," said Ipek Ozkardeskaya, senior analyst at Swissquote. Software developer Phunware Inc, which was hired by Trump's 2020 presidential re-election campaign to build a phone app, shed 10.6 per cent.