Trump Media stock closes 21% lower after company reports $58 million loss for 2023

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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