Trump Media stock falls more than 21% after company discloses $58 million loss for 2023

https://www.wkyc.com/article/news/nation-world/trump-media-stock-falls-after-loss-disclosure/507-5966d0a4-6838-47e6-8ce0-23b49ec22c5f

Losses in 2023 for Trump Media & Technology Group — whose flagship product is Truth Social — mark a stark decline compared with its profit of $50.5 million in 2022.

NEW YORK — Less than a week after a flashy stock market debut, Donald Trump's social media company on Monday disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21%.

Losses in 2023 for Trump Media & Technology Group — whose flagship product is Truth Social — mark a stark decline compared with the profit of $50.5 million that the former president's company reported for 2022, according to a company filing with securities regulators.

Revenue for Trump Media came in at $4.1 million in 2023, the SEC filing shows, although that's up from $1.5 million in 2022...............................

From one of the auditors for the company:

An auditor has raised doubts about the ability of former President Donald Trump's publicly traded company to stay in business, according to a new regulatory filing. 

Trump Media and Technology Group, which operates the Truth Social platform, reported it lost $58.2 million in 2023 while generating total revenues of $4.1 million, according to the Monday filing with the Securities and Exchange Commission. Trump Media listed its largest expense for the year as interest payments totaling more than $39 million.

The filing includes a note from an independent accounting firm, Colorado-based BF Borgers CPA PC, warning that Trump Media's "operating losses raise substantial doubt about its ability to continue as a going concern." The firm has worked with Trump Media since 2022.

Wanker please stick to reporting the tennis rankings, that way  you can’t make a total  of a fool of yourself as you have just done.

Reading the above post I really worry we might be losing our tame Board Fool into the Twilight zone.

"Trump's net worth skyrocketed last week after Trump Media went public on March 26. The company's shares went up by as much as 59% the day it started trading. This increased his net worth by more than $4 billion, per Bloomberg."

Giving back 21% after a gain of 59% can't be that bad...

D raad

Mozart is supposed t know what happens on stock exchanges - a new stck si launched and two days alter recorded an increase of 59% .   S o would not the intitial buyers sell of their orginial purchases making a killing on the sell off side.    A fall of 21% could be atimatic in such  cases.  

The media is going to find any excuse to attack Trump - since the DP has no policies they impremented over the last three years that has not turned into shit and the voters will not support them on the basis of policy imprlementation..

Things are not going well in that regard either,   Peopele are beginning to be as sick and tired about media BS as they are of policy implemntation     One would expect better fdrom Mozart - but he is now a great supporter of the ideals of the WEF to turn the USA into a slave state, through destruction of Democracy in the country.    His attitude has now changed intio fuck the poor - they deserve to be food-insecure and living on sidewalks - while the wealthy made huge  profits from bribery, corruption and insider trading - so viv a the war in Ukraine and the poor are to be treated with the contempt they deserve

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Ou Maaik, what time did you start dopping today?

Be honest now . . . assuming that's even possible.

If you follow the news trail on the stock fall it occurred straight after the negative news about the company came out…hence, not the result of profit taking. Although there was probably some of that.

This is an incredibly volatile new stock. If you want to buy a put on the stock timed for just after the election….the put costs 60% of current market value ie the market is pricing in a high probability of a catastrophic price drop.

Always pleased to help.

No just correcting your error.

This stock is so  uncertain, you can’t even short it:

“There is very little stock available to borrow to support new short selling — less than 50,000 shares — and with demand to short this stock extremely high, we are seeing stock-borrow rates at 500% to 600% fee levels,” Dusaniwsky told MarketWatch on Tuesday.

Based on that data, to short 100 shares of Trump Media & Technology Group at the current price, it would cost between $24,895 and $29,874 a year. That means the stock would have to fall about 1.4% a day just to cover the cost of shorting it. And if the short were held for a year, the bet would still lose about $20,000 to $25,000, even if the stock price fell to $1.

On paper, Donald Trump is arguably the most experienced business person that has ever existed.
The problem is he is a crook - and everything he touches withers and dies.

Apparently, he is taking the original funders of Truth Social to court for mismanagement of the company to blame them for the performance of the company - after the earnings report became public.

A few months ago, he kicked them out of the company by taking all their shares so the new company could be formed.

How are the Biden anti-Trump court cases going thus far???????

FOUR MORE YEARS.