Trump Media plunges more than 20% after company reports net loss of $58 million in 2023

Shares in Trump Media Technology Group fell sharply after the company reported a net loss of $58 million in 2023.

"TMTG expects to incur operating losses for the foreseeable future," says the filing by the company, which has a market valuation of more than $6.5 billion.Amazon is trying to get rid of its signature brown boxes. The retail shipping giant has a long way to go"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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: CNBC - 🏆 12. / 72 Read more »

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.
Source: cnni - 🏆 326. / 59 Read more »

Trump’s Truth Social lost $58 million in 2023, despite $8 billion stock-market valuationThe share price of the company - which uses the stock ticker DJT, for Trump’s initials - plunged roughly 14 percent Monday morning.
Source: adndotcom - 🏆 293. / 63 Read more »