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Six Days Until CNN Trump-Biden Debate; American To Be Sentenced For Taking Ammo To Turks And Caicos; Trump Media Stock Plummets 48 Percent Since NY Conviction. Aired 11:30a-12p ET

Aired June 21, 2024 - 11:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[11:30:00]

WOLF BLITZER, CNN ANCHOR: Only the microphone for the individual who has asked a question and has been asked to respond will be working. The other mic will be muted --

SHERMICHAEL SINGLETON, CNN POLITICAL COMMENTATOR: Yes.

BLITZER: At least during the course of this debate. That's significant.

SINGLETON: It is significant, Wolf. And I think it gives the American people an opportunity to really hear from both candidates and how they're going to address the concerns that people have about a litany of things. I think for the former president, he needs to be more controlled. His tone will really matter.

And when he is given an opportunity to speak, he needs to hammer home the message on the economy, which is not doing that great because of inflation. Hammer on the issue of immigration, which a lot of Americans are worried about. And I would also bring in the Hamas- Israel war that a lot of younger Americans are concerned about.

BLITZER: Biden -- President Biden really has to perform well as the sitting president of the United States in this upcoming debate.

MEGHAN HAYS, FORMER SPECIAL ASSISTANT TO PRESIDENT BIDEN: Yes. I mean, the burden is on him, right? He's the incumbent. He's fighting for him -- to keep his job. Trump is coming -- fighting to come back.

But I mean, it's the -- President Biden has to defend his record for the last four years. And he has to also lay out a vision for the future. So, it's a little -- it's hard for him to do that.

And I think the thing on the microphones is going to be interesting because people at home won't be able to hear because the mics will be muted, but they can still hear each other. So, I'm wondering if you know, you continue to talk if that trips up the other person, and then how that appears to people at home.

BLITZER: And there won't be an audience. There'll be two moderators, you know.

SINGLETON: Yes. BLITZER: Jake Tapper and Dana Bash. But there won't be any audience in there. How does that affect Trump? He likes to play to an audience.

SINGLETON: I actually think this is going to benefit the former president. I think, again, this gives him an opportunity potentially to be more surgical in his responses. And in his critiques of challenging President Biden on his current record.

I think for far too long, Wolf, we have turned politics into a reality TV show. These are very serious matters and issues that impact a country of hundreds of millions of people with global implications. We need to be able to hear what these guys have to say on the most critical issues domestically and internationally.

BLITZER: We got new fundraising numbers that have just come out for these campaigns. And take a look at this, Meghan. And I'll put it up on the screen.

Trump hauled in an extremely impressive amount of $141 million. Virtually wiped out Biden's cash advantage. The president and the Democrats raised 85 million. This is after Trump was convicted on so many felony charges.

HAYS: Yes, absolutely. But I do think that you know, the Biden's have been in the ability to build a ground game for many months. So, they've been in a much more proactive stance here. They hired their one thousand staffer yesterday, so they've already been building the momentum.

It's without question that this helps the Trump campaign because they need to build their organization as well. But the Biden campaign has a much bigger head start to get that organization. And those boots on the ground are really what turns out votes.

BLITZER: What does it tell you that the Trump campaign and the Republicans for that matter could raise so much money even after Trump's conviction?

SINGLETON: Wolf, it tells you that not only has it excited the base, according to the R.N.C. --

BLITZER: What is excited the base? The guilty verdicts --

SINGLETON: The fact that the former president has been found guilty. Absolutely. Because many Republican voters believe that this is a persecution against the president.

They call it a political I think law fair if you will. And so, what it shows, though, is that not only is the former president reaching out to new small-dollar donations and donors, but it also showcases a lot of very wealthy people who were very skeptical of the former president during the Republican primary have now said we want to win this thing. We think it's right before us. We're on the cusp of victory. We're going to support this guy regardless of what he's gone through.

BLITZER: What do you think? HAYS: I think that it's really going to see how President Trump -- former President Trump puts this money to use --

SINGLETON: Yes.

HAYS: If he has to put a majority of it towards his legal fees. And then how he can build his ground game? I think that we are missing that the ground game here is most important, and that's what this money is supposed to be paid -- paying for. So, it's just really going to matter how President Trump -- former President Trump, you know uses his money right now.

SINGLETON: Infrastructure. I agree.

HAYS: Yes.

BLITZER: All right, guys. Good discussion. Thank you very, very much.

Coming up -- but the support note first. Don't miss President Joe Biden and former President Donald Trump going head-to-head in the CNN debate on June 27 at 9:00 p.m. Eastern. Only a few days away.

When we come back. U.S. concerns over Israel's Iron Dome. Would it hold up at a full-blown war with Hezbollah from Lebanon? I'll ask a key member of the House Intelligence Committee right after a quick break.

(COMMERCIAL BREAK)

[11:38:33]

BLITZER: Happening today. The sentencing of an American accused of bringing four rounds of ammunition to the Turks and Caicos. Ryan Tyler Watson pleaded guilty to charges last month after being arrested on April 12. He was stopped by security at the airport when getting ready to catch a flight back home with his wife.

The father of two has been forced to remain on the island ever since. Watson is just one of five Americans arrested in recent months in the Turks and Caicos on similar charges. Since these incidents, the territory is now revising part of its firearm laws. Now, instead of a mandatory 12-year jail sentence, the courts can impose a fine, jail time, or both.

Other news we're following this morning. There are now new concerns about the rising tensions in the Middle East and Israel's ability potentially to defend itself against air attacks. U.S. officials tell CNN that Israel's Iron Dome air defense missile system could be overwhelmed if a full-blown war breaks out against Iranian-backed Hezbollah in Lebanon.

In recent weeks, the cross-border hostilities have escalated along Israel's northern border with Lebanon. And this week, both Israel and Hezbollah have warned of an all-out war. listen.

(BEGIN VIDEO CLIP) DAVID MENCER, IDF SPOKESPERSON: We will use all means necessary to restore security on our northern border. Whether diplomatically or militarily. One way or another, we will ensure the safe and secure return of Israelis to their homes in northern Israel.

[11:40:07]

HASSAN NASRALLAH, HEZBOLLAH SECURITY-GENERAL (through a translator): If the war was imposed on Lebanon, Hezbollah will fight with no regulations, no rules, and no ceilings. Israel knows that there will be no place in a country safe from our missiles and our drones.

BLITZER: And joining us now is Democratic Congressman Josh Gottheimer of New Jersey. Congressman, thanks so much for joining us. How worried are you potentially --

REP. JOSH GOTTHEIMER (D-NJ): Thanks, Wolf.

BLITZER: Of an all-out war erupted now between Israel and Hezbollah?

GOTTHEIMER: I mean, this is an issue that I've been worried about since the seventh -- since October 7. And if you look in steady what's public in terms of the missiles, mortars, and drones that Hezbollah, which is an Iranian proxy has been firing at Israel, you're talking about 5000 missiles and drones and mortars since the seventh. And 200 in one day just a couple of days ago, at Israel.

You realize that the power that Hezbollah has the military might in terms of just Shen when we've known this for years. The sheer stockpiles they have is deeply concerning for this moving into a regional challenge for all those who believe in protecting democracy and standing up to Iran and their proxies.

BLITZER: You're on the House Intelligence Committee, Congressman. Do you share the concerns that have already been expressed that Israel's Iron Dome missiles -- air defense missile system, which has been so effective against Iran and other -- and other adversaries over these past few years, could potentially be overwhelmed by the full aerial assault from Hezbollah rockets and missiles that are -- that are there in Lebanon?

GOTTHEIMER: Well, what's been said publicly, Wolf, on that is that there is a deep concern that the Iron Dome could be overwhelmed. This was an issue that we were concerned about when Iran attacked Israel a few weeks back, right? The -- being able to handle the sheer incoming.

And if you're fighting a multi-front war, right from the north of Hezbollah, Hamas, continuing to fire at Israel, which it does nearly daily, being able to handle all that -- and other fronts, of course, and others -- other Iranian proxies getting involved, we see the Houthis, which is --who've been firing as well, and Israel and America, which is, you know, is my broadest concern here is protecting the United States and making sure that American servicemembers are safe around the world. And our interests are safe. But you can see quickly how this could escalate. And so, what we need to do is make sure that the United States stands strong, not only with our ally, but continuing to stand strong against Iran. And its proxies, Hamas, Hezbollah, Palestine, Islamic Jihad, the Houthis. Stands strong in the region. And you know -- and Wolf, as we've also talked about tomorrow, Hamas could accept what's been offered to them and get a pause. They have -- they continue to reject any offers on the table.

BLITZER: We're told, Congressman, that the U.S. is cautioning Israel against launching a military incursion -- a ground incursion against various Hezbollah targets in Lebanon. How should the U.S. respond if that were to happen?

GOTTHEIMER: Well, I've not been briefed on the specifics there. So, you know, I'll just say that I imagine that Israel is looking at this as we would. If Hezbollah increases their attacks like they did -- like they've been doing at Israel at the northern -- on the northern border, and Lebanon -- and of Lebanon you know, at some point, of course, Israel has to continue to defend herself. And so, we'll have to better understand and get briefed further on the specifics.

But let's under -- the bigger picture remains the same. That you have Iran, which is obviously closely allied with the government of China, Russia, and North Korea continuing to disrupt not only what's going on in Israel but threaten the United States of America and our democracy and attack our service members and our bases out of Iraq and Syria. So, we need to watch this very closely for American interests for securing our democracy and of course, protect America.

BLITZER: Congressman, I want to quickly shift gears while I have you. I know you -- you've already announced a potentially new action against various guns designed to evade metal detectors. How big of a threat is this, especially with the growing use of 3D printers?

GOTTHEIMER: Yes. And, Wolf, let me just say one thing before we get there. You know, don't forget -- we should never forget that we've got five Americans who are hostage, and 44 Americans were killed.

We should keep that in mind every day. They still have hostages. They still have Americans who are hostage.

And these threats in the region continue in terms of traceable guns and ghost guns. And I spoke about this yesterday because we've got the FIFA World Cup coming here in 2026. But all stadiums and public venues are a threat from guns that either are made from 3D printers, out of plastic that have no metal in them.

[11:45:02]

You go through metal detectors that are not traceable, or ghost guns which have no serial numbers and no way to trace them. I'm deeply concerned about these. And we're seeing a proliferation of them, not just at large sporting events and other targets, but in our cities -- in our communities. And this is something we have to pay very close attention to. We can't have it that people are able to sneak in weapons, make them on their 3D, printer, and attack and kill people. BLITZER: Congressman Josh Gottheimer, thanks as usual for joining us.

GOTTHEIMER: Thanks, Wolf.

BLITZER: And coming up. A red-hot ice-cold Donald Trump's net worth takes a tumble as Trump Media shares are in freefall right now. So, what happened? We'll be right back.

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[11:50:05]

BLITZER: Take a look at this live look at the stock of the parent company of Trump's Truth Social business. Since Donald Trump's felony convictions in New York three weeks ago, Truth Social as a parent company have lost roughly half its value. Trump Media stock prices have been rapidly dropping since May dealing a huge blow to the former president's net worth.

CNN Reporter Matt Egan is joining us right now. Matt, Truth Social is hurting right now big time. What is happening?

MATT EGAN, CNN REPORTER: Well, Wolf, this is a stock that is basically in freefall mode right now. Trump Media was trading above 50 bucks as recently as May 30. Of course, that's the day that Donald Trump was convicted here in New York.

And within seconds of that conviction, we saw the stock price plunge. And it's just snowballed. Since then, this company has now lost over half of its value in just three weeks.

It's staggering losses. The spark for this week's sell-off was the fact that regulators gave a green light to investors who owned what's known as warrants to buy extra stock in this company. It's a move that could allow Trump Media to raise extra money, but it's also going to water down existing shareholders.

And that has spooked some investors. I don't want to sign too much logic here though, to the stock moves. Because remember, experts have said that Trump Media is basically a meme stock. It is trading on hype and momentum, not fundamentals.

It's valued in the billions of dollars, even though it generates very little revenue. Now, no matter the cause, this sell-off has wiped out a huge chunk of the value of the stock of the company's chairman and leading shareholder Donald Trump. This stake was worth about six billion dollars as recently as three weeks ago. Now, it's down to around three billion dollars. And this selling may not be done.

I spoke to Jay Ritter. He's a finance professor at the University of Florida. He's been studying capital markets for 40 years. And he said, despite this sell-off, this stock is still "wildly overpriced."

Remember, its main product is the conservative social network, Truth Social. It's a very tiny player in social media. It is dwarfed in terms of the number of users by its rivals, including Reddit, Elon Musk's X, and even Instagram, Threads. And Trump Media, it generated less than $800,000 in revenue in the first quarter. That is very tiny. Normally, a company with that kind of revenue is valued in the millions of dollars, not the billions. Wolf?

BLITZER: Interesting. Matt Egan reporting for us. Matt, thank you very much.

EGAN: Thank you.

BLITZER: And before we go this afternoon, I want to bring you two great stories from the sports world. Right now, celebrations are officially underway in Boston for the Boston Celtics' victory parade. Close to a million people lining Boston streets to celebrate their team's 18th NBA championship win.

That's a truly most remarkable moment, the most titles for a single team in the NBA history. Players and coaches are traveling in true Boston style in the city's iconic duck boats. The route passes a number of landmarks including Boston Common and City Hall, giving fans plenty of chances to salute their home team. Congratulations once again to the Boston Celtics.

Finally. Two days after baseball legend Willie Mays died, Major League Baseball honored him at the oldest professional baseball park in America. Thursday night's game between the St. Louis Cardinals and the San Francisco Giants, which was originally meant to honor all of the Negro Leagues players. But after Willie Mays' passing, it only felt right to celebrate his legacy at the same stadium he played at decades ago.

CNN's Ryan Young has the story.

(BEGIN VIDEOTAPE)

RYAN YOUNG, CNN SENIOR NATIONAL CORRESPONDENT: When you think the history of baseball you think about some of the most magnificent players that have played sports in our country. And look, a lot of that's happened here at Rickwood Field.

This is the oldest baseball stadium left in the country. It was built in the early 1910s. And when you add that together, you understand the rich history when you put that together with the Negro League.

You can still see the bus flipped, Black Barons behind me. There's been a lot of times conversations about this, especially with the passing of Willie Mays and Major League Baseball, putting an emphasis on having this game and being able to talk about how much the Negro Leagues meant to the stadium. And not only that but to this area. So now that conversation is being had, stats are being added, and even the little fans of the future are able to come out here and enjoy the game.

MICHAEL MAYS, WILLIE MAYS' SON: So, we have this whole positive, high- energy thing going about it. And then you know, Mr. Mays does the mic drop. So, you know, now we're under his watch.

And, you know, been through -- we got to do the right thing. We know what he wants. He's not trying to have people hanging their heads.

SAM ALLEN, FORMER NEGRO LEAGUES PLAYER: Well, every game we played was special. Yes. Every -- and you played to win. And we play the type of ball we play. It's the type of ball that they play today.

YOUNG (voiceover): A lot of the fans are telling us that Major League Baseball had a hit with this -- the city of Birmingham had an economic impact that they are happy with. We've talked to some of the vendors who say this has been a boon for them.

YOUNG: And on top of all that, being able to pay tribute to Willie Mays after his passing just a few days ago, gave some of these fans a chance to reconnect with the sport they love. So many grown people talking about shedding tears, or someone they love since being a kid. Ryan Young, CNN, Birmingham, Alabama.

(END VIDEOTAPE)

BLITZER: Our special thanks to Ryan Young. And thanks to our viewers for joining me here in the CNN NEWSROOM. I'm Wolf Blitzer in Washington.

And I'll, of course, be back later tonight at a special time 5:00 p.m. Eastern in "THE SITUATION ROOM." Stay with us. "INSIDE POLITICS" today with Manu Raju starts right after a quick break.

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