Trump's media company raises going-concern doubts; shares tumble - SABC News

  • 📰 SABC News Online
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Shares of Trump Media & Technology Group fell nearly 18% on Monday.

The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022.The company posted a net loss of $58.2 million in the year ended December 2023, compared with a net profit of $50.5 million a year earlier. Revenue was $4.13 million last year, up from $1.47 million in 2022, it said in a filing.

“As of December 31, 2023 and 2022, management had substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due, including liabilities related to promissory notes previously issued by TMTG,” the company said. Trump Media said it expects to incur operating losses and negative cash flows from operations for the foreseeable future, as it works to expand its user base, attracting more platform partners and advertisers.

Its shares gained more than 16% on its first trading day on March 26, as retail investors including supporters of former President Donald Trump piled into the stock.Separately on Monday, a Delaware judge said he wanted the company and Trump Media co-founders Wesley Moss and Andrew Litinsky to set a date this month for a hearing to determine if the pair should receive the 8.6% stake in the company they claim they are owed.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 32. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Trump raises concerns about US ban on TikTok - SABC News - Breaking news, special reports, world, business,In 2020, Trump sought to ban TikTok.
Bron: SABCNews - 🏆 37. / 51 Lees verder »