FILE – The Truth Social account for former President Donald Trump is seen on a mobile device, Wednesday, March 20, 2024, in New York. Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will begin trading on the Nasdaq stock market on Tuesday, March 26, 2024. The common stock of Trump Media & Technology Group will trade under the ticker symbol “DJT.
They’re betting on a company that has yet to turn a profit. Trump Media lost $49 million in the first nine months of last year, when it brought in just $3.4 million in revenue and had to pay $37.7 million in interest expenses. In a recent regulatory filing, the company cited the high rate of failure for new social media platforms, as well as the company’s expectation that it will lose money on its operations “for the foreseeable future” as risks for investors.
However, Trump Media has yet to disclose Truth Social’s user numbers — although that should change now that the company is public. Research firm Similarweb estimates that Truth Social had roughly 5 million active mobile and web users in February.
Another risk, the company said, was that as a controlling stockholder, Trump would be entitled to vote his shares in his own interest, which may not always be in the interests of all the shareholders generally. Colorado hospitals no longer required to report newborns who test positive for drugs, working to better support addicted momsHow Wyatts Towing allegedly circumvented Colorado’s new towing law — and why legislators are pushing for further reformBroncos have "full redesign" of uniforms completed, set for unveiling in coming weeks