Donald Trump's social media company lost $58 million last year. Freshly issued shares tumble

📆 01/04/2024 19:17:00
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NEW YORK (AP) — Less than a week after a flashy stock market debut , Donald Trump's social media company is disclosing that it lost nearly $58.2 million in 2023.

NEW YORK — Less than a week after a flashy stock market debut, Donald Trump's social media company is disclosing that it lost nearly $58.2 million in 2023.

Revenue for Trump Media topped just over $4.13 million in 2023, the SEC filing shows, although that's up from $1.47 million in 2022. Trump Media's shares soared in their first couple days of trading — surpassing $79 at one point Tuesday — but have since fallen closer to their initial offering price of $49.95. As of midday Monday, Trump Media's stock plunged more than 23% to below $48, meaning a lot of early investors are taking a hit.

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