The share price of Trump Media closed 21.47% lower Monday, hours after the social media app company tied to former President Donald Trump reported a net loss of $58.2 million on revenue of just $4.1 million in 2023.
"TMTG expects to incur operating losses for the foreseeable future," says the filing, which came a week after the company began trading under the ticker DJT on the Nasdaq. He also stands to receive another 36 million shares of so-called earn-out shares over the next three years, as long as Trump Media's stock during that time hits a series of price benchmarks. These targets are all well below the company's stock price early Monday.
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Trump Media stock falls more than 21% after company discloses $58 million loss for 2023Less than a week after a flashy stock market debut, Donald Trump’s social media company has disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21%.
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Trump Media shares fall sharply after company reports net loss of $58 million in 2023Trump Media, whose majority shareholder is former President Donald Trump, 'expects to incur operating losses for the foreseeable future,' the filing says.
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Trump’s media company lost $58 million in 2023Truth Social owner Trump Media & Technology Group disclosed Monday that it lost more than $58 million and generated very little revenue in 2023.
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