Thursday, February 7, 2008
Political Future's Market Backing Obama
Well, here we have it. The Iowa Electronic Markets are backing a new candidate. I figured the market would shake out after Super Tuesday, and indeed it has. Barack Obama has been anointed official front runner status. As of February 6, 2008, the day after Super Tuesday, Obama was trading at a higher price than Hillary Clinton, $54.20 to $44.00. As of today, February 7, 2008, he has increased that lead to $58.60 to $40.80. I imagine this is a combination of his strong showing on Super Tuesday, but also the revelation that Hillary Clinton is running out of money while Obama has raised oodles of money, $5.6 million in one day after Super Tuesday. The Hillary camp has just announced that they've raised some more money, but clearly not at the level of Obama. So, with that being said, so long as Obama keeps the money coming in, I think he'll have a distinct advantage over Clinton in the upcoming primaries.