Trump Media and Technology Group, the owner of former US president Donald Trump's social networking site Truth Social, lost more than $US300 million last quarter, according to its first earnings report as a publicly traded company.
Trump Media had previously cycled through at least two other auditors — one that resigned in July 2023, and another that was terminated its the board in March, just as it was re-hiring BF Borgers.The stock, which trades under the ticker symbol "DJT," began trading on Nasdaq in March and peaked at nearly $US80 in late March.
The company listed a cash balance of $US274 million as of the end of March — a sum boosted by its deal to go public. Experts have said the price tag on Trump Media stock defies logic given the company's financial results and small footprint in social media.