Trump Media plunges more than 25% after company reports net loss of $58 million in 2023
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.
https://www.cnbc.com/2024/04/01/trump-media-lost-58-million-last-year-sec-filing-shows.html
According to the filing, Trump Media reported sales of just over $4 million as net losses reached nearly $60 million for the full year ending Dec. 31. The company warned it expects losses to continue amid greater profitability challenges.