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Trump Media & Technology Group lost $58m last year, shares sink

AuthorSam Boughedda
Published 04/01/2024, 11:51 AM
Updated 04/01/2024, 11:53 AM
© Reuters. Trump Media & Technology Group (DJT) lost $58m last year, shares sink
DJME
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Trump Media & Technology Group (DJT) shares tumbled more than 14% Monday after the company disclosed it lost more than $58 million in 2023.

In addition, it was revealed the company generated only a small amount of revenue, $4.1 million for the full-year.

DJT shares are down 15.75% as of 11:33 am ET on Monday, trading at $52.20 per share. Last week, the stock climbed over $79 in intraday trading after it closed its blank-check deal.

According to filings with the US Securities and Exchange Commission, Trump owns a 57% stake in the company. However, due to a six-month lock-up agreement, he is unable to sell his stake immediately.

Trump Media’s revenue in 2023 rose from the $1.47 million reported for 2022. The company posted a $50.5 million profit in 2022, which was boosted by a change in the value of its convertible notes.

Latest comments

So funny watching the weak trump simps and fluffers try to make this one make sense 😂🤣 buy DJT and put your money where your simping is!!
so much winning..
if only truth social could package and sell verbal diarrhea - they'd make a fortune in the fertilizer space
classic, pump and dump - unfortunately for trump, he can't dump for 6 month's lol - must be time for a classified bathroom break
".......company generated only a small amount of revenue, $4.1 million for the full-year." - what, you don't think $9.6B valuation for a company of $4m revenue is fair value? don't be so woke
Look.. politics and adoration of personality don't mix well with stocks. A savvy investor knows to follow the fundamental and technical indicators. The company is coming in at a loss and merging with Truth Social was a bad idea since the potential of getting more advertiser to support is practically nil. Social networks rely on heavy footprints of users for advertisers to glean their income. Comparatively speaking, TS is an echo chamber with way lesser footprint than Reddit, Facebook and the likes. Buying this stock is a big gamble unless speculative Hedge Funds or Institutional interest are attracted to it. When you add all of this up, there are better places and more stable stocks to invest in... unless one is a die-hard fan of the individual. In which case you are buying stock to support an individual. A very weak premise to buy DJT stocks unless to solely enhance his political agenda.
how can anyone think $9.6b valuation for a company with only 5m active monthly users is too high???
While I agree w/ your post, allow me to play devil's (or retrumplican's) advocate and speculate on the retrumplicans' side: DJT will be worth a lot If Trump wins and go dictator/kill free market, and speak only/largely w/ TS, mandate others to speak through so too, and to steer gov't and parties seeking his favors to do sweetheart deals w/ TS and to buy DJT stocks.
Personally, I don't dwell on future potentials. More often than not prediction tends to disappoint. But, as it is, the company is smeared with den of crooks ... from dubious funding from Russian oligarch Caribbean Bank and Russian "Family Trust" under investigation according to The Guardian news, and co-owner feuds and litigations. And if past business is of any indication, whatever DJT puts its hand on, it sours, including a potential dictatorship. So, unless "this time is different" prevails, I wouldn't put a penny in that stock except to short it... but then again to do so, you incur a $500 fee, go figure!
baby doll use his profits to pay himself more when he wins all of his golf tournaments he never loses he's amazing
give all your money to Donald he'll spend it whenever he wants on anything you idiots maybe he'll win another golf tournament oh my it must be over 300 tournaments this guy won he's amazing why isn't he a pro
Very cool and very legal!
did someone mention Trump? the TDS is on fire
Trump is always mentioning himself, many times in the 3rd person.
🤡☝️
Tesla had a market cap of over $1 trillion before it even turned $1 of net profits. I love how these hit pieces just demonstrate complete ignorance of how business and valuations work. NVDA had a net revenue last quarter of only $20 billion but ha a current market cap of over $2 trillion. Why not complain about that?
Aw. Truth Social has very little actually value unless you are Trumplican.
Lost 58 million, revenue of 4 million... that must be a very very tallented business man... lol
he claimed bankruptcy zero times. companies he either had name rights or partnership in had bankruptcies. big difference
Jan never mentioned bankruptcy. Running a business into bankruptcy doesn't make one “a very very talented business man”.
yes those casino's were beautifully run right up to bankruptcy - how do you go bankrupt running a casino - oh right by not having a clue what your doing - just like when he was pres. - which is why most of the people who worked in the white house for him are voting biden
He's ripping of his followers in as many ways as possible... they bought shares in a totally worthless company... lol
it's super funny... proof his followers are dumb and follow anything blindly as long as it matches their dumb beliefs
fool me once. shame on you, fool me 10 times....shame on .....me
It's funny because they know it's worthless when they brought it, because they willingly bared their necks for Trump to rip out their throats. I guess “tragi-comedic” is a better description than “funny”.
,hoo 😍💰💸💸💲💲💸💸
fits right inline with trump universities, his net worth and stylish gold sneakers, oops and his taste in film stars
This stocks existence shows how big the bubble actually is. When it finally pops all assets will be annihilated including Pensions and brokerage accounts.
Only took 15 hours for my comment to be approved. This censorship is only going to get worse.
I hope this shhh goes to ZERO. I’m shorting this crap 😩😩
It's all going to zero.
This stocks existence shows just how big the bubble actually is. When it finally pops, everything will be wiped out. all assets including pensions and brokerage accounts.
I’m still buying the dip!
I'm buying Bitcoin, Gold, and Silver. Everything else will be wiped out.
lol
You are the dip.
Another scam for trump to steal money smh
You worried about it get the hell out of it
He is going to need some money for commisary at rikers.
Trump isn’t going to prison.
yes, he is russian troll multiple-profile 'mark'
Another greater fool stock.
very few that are not.
@shawnarnold-tx2vo
Truth Social stock is up 341% over the past year and Trump is now on Frobest 500 richest people list. Cry harder. The only people losing are Americans while Biden is in office.
Another willfully ignorant 🤡 weighs in.
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