Posted on 04/01/2024 12:36:23 PM PDT by joesbucks
The share price of Trump Media plunged Monday after the social media app company closely tied to former President Donald Trump reported a net loss of $58.2 million on revenue of just $4.1 million in 2023.
Trump Media & Technology Group shares were trading down by more than 25% around 1:08 p.m. ET.
(Excerpt) Read more at cnbc.com ...
That I agree with. Although that figure was from 2022.
They originally had 1.3 billion in funding, most from institutional investors. When they withdrew they took 3/4 of the money with them.
Looks the the numbers are for 2023 https://www.fastcompany.com/91072950/trump-truth-social-revenue-2023-58-million-lost
“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.”
That 1 billion in pipe investment would have given other entities majority ownership of tmtg above Donald Trump. The last thing we needed were these pipe investors to stay in the equation. It was an excellent move to get rid of them
[“a net loss of $58.2 million on revenue of just $4.1 million in 2023”
A net loss early in a companies history is not necessarily a bad thing.
But just $4.1 million total revenue for a year seems really low.]
Better, but still not enough revenue. And apparently costs are out of control. It would be interesting to see the line items that make up the income statement.
Lots of stocks ‘plunged’ today...
Timing is everything. Truth Social got out ahead of the bad news. Bet there are lots of upset investors today and if like most, this will lead to investor lawsuits and investigations. Was there any insider trading? And since this is Trump-related, it’ll be given extra scrutiny. Another controversy for Trump.
The deal was set up to give him controlling interest right from the start. He would have had it whether they were in or out.
You’re wrong
iI think Jon Voight would play the part of Donald Trump very well.
Do you really think that Trump would have wanted to be in a public company in which he didn’t call the shots? That he would want to have to answer to investors or a board of directors?
From 2022:
“Truth Social is part of Trump Media and Technology Group, a holding company for the platform that, according to regulatory filings, has broader plans to expand into streaming and other services to promote Trump’s political brand. Trump is said to hold a controlling interest in Truth Social, though his monetary investment in it is said to be negligible to nonexistent, and he is not in control of its day-to-day operations.”
https://www.foxbusiness.com/features/trump-social-media-app-facing-financial-fallout
Yes the market has been yoyoing for the last three months nerves not real steady right now with WH moves.
It's value is clear, it is one of the few places you can go to get away from the lying mainstream media and the other leftist social media companies that censor truth along with anyone to the right of Karl Marx.
As Trump continues to dominate in the polls and draw people to back him, it's invaluable to not just him, but to all of us who consider ourselves conservative, even to you who might not really be a Stalinist at heart. You really might not want those types to win either, in spite of your preferred candidate losing.
Profit taking.
Our massive debt is setting up a market vibration... Scary times.
Indeed stock up now it’s going to last a while.
Tried to sell it when my statement said it worth 2500 times what it was quoted as but they wouldn’t let me.
Totally agree. You’ve got to know what the picture looks like that close to the ipo and the financial results. I haven’t looked but wonder if institutional investors got burned.
Like every lefty anywhere, lying, deceiving, and being a general ahole.
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