Former President Donald Trump has hinted at announcing a run for president of the United States in the 2024 election on several occasions.
On Tuesday night, the former president will make a special announcement that could come as his most likely Republican primary opponent enjoys a reported sizable lead.
What Happened: Trump is making a “special announcement” Tuesday with a livestream beginning at 8 p.m. ET.
The video will air on Rumble, a video platform owned by Rumble Inc RUM. Trump will be speaking from the Mar-a-Lago Club in Palm Beach, Florida.
UPDATE: The 45th President, Donald J. Trump will be making a special announcement LIVE from his official Rumble account at 8PM EST today.https://t.co/LmoxtYwxaz
— Rumble - :pirate_flag: $RUM (@rumblevideo) November 15, 2022
While it has not been confirmed, the special announcement will likely be that Trump is running for president once again. Trump, who served one term in office and was impeached twice, lost the 2020 election to President Joe Biden.
Trump's announcement could set up a 2020 rematch if both he and Biden run and secure the nominations of their parties.
The update from Trump comes as he is losing support from Republican Party voters and now trails Florida Gov. Ron DeSantis in betting odds and polls.
Trump has 1.58 millon subscribers on Rumble and has previoulsy used the video platform to air speeches. A recent speech in Dayton, Ohio shared on Nov. 7 has over 566,000 views on Rumble.
Related Link: 14 Stocks To Watch If Donald Trump Announces 2024 Presidential Bid
Why It’s Important: Trump is being warned by the Club for Growth that if he announces he is running for president he could face a huge challenge from DeSantis.
Club for Growth, which was previously a Trump ally, told Politico that DeSantis has a double-digit lead in Iowa and New Hampshire, two key early states for voting in the primaries.
“Republicans need to be united behind a strong candidate and a platform that shows voters real solutions to beat Biden and the Democrats in 2024,” Club for Growth President David McIntosh said. “Our polling shows that Republican primary voters recognize Trump’s insults against Republicans as hollow and counterproductive.”
McIntosh also suggested that Trump should wait to announce his candidacy until after a Dec. 6 runoff election in Georgia, with many blaming Trump for the poor showing by Republicans in Congress in the recent 2022 midterms.
The poll taken between Nov. 11 to Nov. 13 shows DeSantis with an 11-point lead in Iowa and 15-point lead in New Hampshire. Previously, Trump had a 15-point lead in Iowa and was tied with DeSantis in New Hampshire in August.
In Florida, DeSantis leads Trump by 26 points in the latest poll and by 20 points in Georgia.
Back in August, Trump led DeSantis by seven points in Florida and six points in Georgia.
Club for Growth has donated to several potential Trump GOP rivals, upsetting the former president.
MAGA Inc’s Taylor Budowich questioned the polling data by Politico.
“Their polling is consistently wrong, seemingly cooked up for the sole purpose of squeezing an extra seven-figure contribution out of trusting benefactors – and looking back at 2022, what do they have to show for it?” Budowich said. “When they cross Trump, they lose, and that’s not going to change.”
Other polls shared by Politico show Trump leading 48% to 26% in a Morning Consult poll and DeSantis leading Trump 41% to 39% in a YouGov poll.
Benzinga recently shared that betting odds have risen for DeSantis and dropped for Trump. DraftKings Inc DKNG allows betting on the 2024 election in Canada but not in the U.S.
The latest odds from DraftKings show DeSantis as the favorite at +225 to win the 2024 election, followed by +330 for Trump and +550 for Biden. Trump was previously the favorite but DeSantis has passed him on all betting sites that Benzinga found.
RUM Price Action: The news of Trump’s announcement is boosting the stock of Rumble.
After being down early in the morning, Rumble shares are now up 1% to $11.79 at the time of writing.
Digital World Acquisition Corporation DWAC, a SPAC taking Trump’s media company public, is down 2% to $27.20 on Tuesday.
Photo via Shutterstock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
