Obama's Stock Keeps Rising on Iowa Electronic Markets
The Dow Jones may be dropping, but one stock that keeps rising is Barack Obama on the Iowa Electronic Markets.
Tuesday morning, Obama shares on the Winner Take All market were selling at 77 cents, meaning traders give the Democratic ticket a 77 percent chance of winning. That's up 10 cents since the first presidential debate, and more than 20 cents in the last month. The Winner Take All market pays a dollar per winning share and nothing for a losing share.
On the Vote Share market, which predicts percentage of the popular vote and pays a penny a percent, Obama was selling at 54.3 cents Tuesday morning, and Republican John McCain was selling at 47.4 cents.
The University of Iowa College of Business project, in which traders use real money to measure candidates' chances, has had a strong predictive track record since it started in 1988.