DJT is trading at a multi-billion dollar market cap while generating less revenue than a successful suburban car dealership. The disconnect between price and productivity is reaching escape velocity.
Nearly 90% of the quarterly loss is tied to $368.7M in unrealized hits on digital assets and equity. The balance sheet is effectively a high-stakes crypto and tech volatility play.
Despite the staggering bottom-line crater, the company reported its fourth consecutive quarter of positive operating cash flow ($17.9M). They are bleeding on paper but staying liquid in practice.