Donald Trump’s Media Company Reports 2023 Revenue Of $4M And $58M In Losses; Stock Drops 25%

There are two type of people who bought stock: clever investors getting rich before it turns worthless, and MAGA Morons!

Trump should not be able to cash in for 6 months, but if he does to "pay for his crimes" he's screwing his supporters!

https://deadline.com/2024/04/donald-trump-media-company-2023-revenue-losses-stock-1235872987/

Trump Media & Technology Group, the newly formed company whose assets include nascent social media platform Truth Social, has reported 2023 revenue of $4.1 million and a net loss of $58.2 million.

The full-year figures were disclosed in new SEC filings Monday. Investors pounced on the numbers, sending shares in the newly formed company down more than 25% in mid-day trading. The stock’s movement is being watched closely because the company’s majority shareholder is Donald Trump, the former president who is poised to become this year’s Republican presidential nominee.

Truth Social, which was launched as a response to limits put in place on Trump and other right-wing figures on various digital and social platforms, has not posted dramatic growth as of yet. Trump’s following illustrates the disparity. He has 7 million followers on Truth Social, compared with 87 million on Twitter, which is now known as X. Elon Musk, who acquired Twitter in 2022, restored Trump’s account after it had been shut down in the wake of the January 6 attacks. Given his financial interests in Truth Social, Trump has relied on it as his main outlet and has not returned to posting on Twitter/X.