Last month Donald Trump received a much needed cash infusion after the board of directors for his social media platform, "Truth Social," agreed to a merger and voted to take the stock public [click here if you missed that].
After a robust initial public offering, Security and Exchange Commission filings showed Truth Social lost $58 million last year and the stock took a nosedive...
From Investors.com
Shares of Trump Media & Technology Group (DJT) dropped Monday as federal regulatory filings showed former President Donald Trump's social-media parent company lost more than $58 million in 2023.
DJT stock, which began trading on the Nasdaq last week, sank more than 21% to 48.66 amid heavy trading during market action Monday. Trump Media & Technology, the owner of Truth Social, reported Monday a loss of $58.19 million in 2023 on revenue totaling $4.13 million, up from $1.47 million in 2022, according to U.S. Securities and Exchange Commission (SEC) filings.
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