Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Trump Media plunges more than 25% after company reports net loss of $58 million in 2023
CNBC ^ | Dan Mangan

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 ...


TOPICS: Government; Miscellaneous; News/Current Events
KEYWORDS: chat; fakenews; joesdemocrats; joesoperative; nevermaga; nevertrump; socialmedia; trumpmedia; trumpmediastock
Navigation: use the links below to view more comments.
first previous 1-2021-4041-56 next last
To: JSM_Liberty

That I agree with. Although that figure was from 2022.


21 posted on 04/01/2024 1:09:24 PM PDT by joesbucks (For 2,000 years Christians have been warning of the Anti-Christ. Now they buy Bibles from him. )
[ Post Reply | Private Reply | To 19 | View Replies]

To: spacejunkie2001

They originally had 1.3 billion in funding, most from institutional investors. When they withdrew they took 3/4 of the money with them.


22 posted on 04/01/2024 1:13:05 PM PDT by Coronal
[ Post Reply | Private Reply | To 4 | View Replies]

To: joesbucks

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.”


23 posted on 04/01/2024 1:14:49 PM PDT by JSM_Liberty
[ Post Reply | Private Reply | To 21 | View Replies]

To: Coronal

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


24 posted on 04/01/2024 1:14:50 PM PDT by spacejunkie2001
[ Post Reply | Private Reply | To 22 | View Replies]

To: JSM_Liberty

[“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.]


Social media is a great business for the top few players. Truth Social is not one of that number. Pinterest recorded $981m of sales in 1 quarter. Snapchat, another minnow, did $1.3b in sales for the most recent quarter. Only Pinterest is profitable, and this after widely-publicized expense cuts.


25 posted on 04/01/2024 1:18:39 PM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room)
[ Post Reply | Private Reply | To 3 | View Replies]

To: JSM_Liberty

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.


26 posted on 04/01/2024 1:20:28 PM PDT by joesbucks (For 2,000 years Christians have been warning of the Anti-Christ. Now they buy Bibles from him. )
[ Post Reply | Private Reply | To 23 | View Replies]

To: joesbucks

Lots of stocks ‘plunged’ today...


27 posted on 04/01/2024 1:23:02 PM PDT by GOPJ
[ Post Reply | Private Reply | To 1 | View Replies]

To: joesbucks

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.


28 posted on 04/01/2024 1:24:26 PM PDT by Reno89519 (If Biden is mentally unfit to stand trial, he is mentally unfit to be president. He needs to resign.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: spacejunkie2001

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.


29 posted on 04/01/2024 1:25:52 PM PDT by Coronal
[ Post Reply | Private Reply | To 24 | View Replies]

To: Coronal

You’re wrong


30 posted on 04/01/2024 1:27:35 PM PDT by spacejunkie2001
[ Post Reply | Private Reply | To 29 | View Replies]

To: spacejunkie2001

iI think Jon Voight would play the part of Donald Trump very well.


31 posted on 04/01/2024 1:31:50 PM PDT by princess leah
[ Post Reply | Private Reply | To 30 | View Replies]

To: spacejunkie2001

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


32 posted on 04/01/2024 1:35:14 PM PDT by Coronal
[ Post Reply | Private Reply | To 30 | View Replies]

To: GOPJ

Yes the market has been yoyoing for the last three months nerves not real steady right now with WH moves.


33 posted on 04/01/2024 1:45:09 PM PDT by Vaduz
[ Post Reply | Private Reply | To 27 | View Replies]

To: Reno89519
Your statements are kind of off. It traded close to 10 6 months ago. It's still worth five times that after its recent downward trend. It had reached 78 at the top last week, and has declined to where it is. For a host of reasons it will likely return to the mid 70's or possibly higher.

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.

34 posted on 04/01/2024 2:07:06 PM PDT by Lakeshark (Trump. He stands for the great issues of the day. Stay the course!)
[ Post Reply | Private Reply | To 28 | View Replies]

To: joesbucks

Profit taking.


35 posted on 04/01/2024 2:29:43 PM PDT by stars & stripes forever (Blessed is the nation whose GOD is the LORD. (Psalm 33:12))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Vaduz

Our massive debt is setting up a market vibration... Scary times.


36 posted on 04/01/2024 2:30:01 PM PDT by GOPJ
[ Post Reply | Private Reply | To 33 | View Replies]

To: GOPJ

Indeed stock up now it’s going to last a while.


37 posted on 04/01/2024 2:43:38 PM PDT by Vaduz
[ Post Reply | Private Reply | To 36 | View Replies]

To: joesbucks

Tried to sell it when my statement said it worth 2500 times what it was quoted as but they wouldn’t let me.


38 posted on 04/01/2024 2:45:01 PM PDT by xoxox
[ Post Reply | Private Reply | To 1 | View Replies]

To: Reno89519

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.


39 posted on 04/01/2024 2:47:54 PM PDT by joesbucks (For 2,000 years Christians have been warning of the Anti-Christ. Now they buy Bibles from him. )
[ Post Reply | Private Reply | To 28 | View Replies]

To: joesbucks
You'll spend the rest of the thread trying to convince suckers to believe your Marxist BS.

Like every lefty anywhere, lying, deceiving, and being a general ahole.

40 posted on 04/01/2024 3:24:48 PM PDT by Lakeshark (Trump. He stands for the great issues of the day. Stay the course!)
[ Post Reply | Private Reply | To 39 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-56 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson