Donald Trump's social media company, Truth Social, reported a significant financial loss of $58 million for the year 2023, which led to a sharp decline in its stock value. Following the disclosure of these financial results, which also included generating very little revenue, the stock price of Trump Media & Technology Group, the parent company of Truth Social, plummeted more than 21%. This financial setback comes less than a week after the company's highly publicized stock market debut. Despite the loss and the subsequent stock price drop, former President Trump described Truth Social as 'very solid'. The company's valuation still stands at $6 billion, even after all the stock gains since its initial public offering (IPO) were erased due to the news of the loss.
How Much Is Truth Social Really Worth? https://t.co/4LW59G1CZW
Trump Seethes as Truth Social's Stock Price Gets Absolutely Hammered https://t.co/1VpbexflCQ
Trump after he sees the Truth Social stock price: https://t.co/xClBOlTaSW
Former President Trump argued that Truth Social is "very solid" after the platform's parent company reported a $58 million loss last year and saw its shares plunge more than 20 percent. https://t.co/xOXCjuTTda
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 percent. https://t.co/CFXLhVm4XL
Truth Social’s merger and newly listed stock made Mr. Trump billions of dollars richer, at least on paper. The stock has been volatile, dropping over 20% on Monday amid reports of lousy Truth Social revenue but has gone up and down since then. https://t.co/qO12kOQ57U
Trump's Truth Social shares plummet by 21% after financial filings revealed the company lost $58million in 2023... but it is still worth $6 billion https://t.co/qrknUdyAk6 https://t.co/lVezJCnpJp
How Much Is Trump’s Truth Social Worth? https://t.co/vKCn1KQWMQ
All of Trump’s stock gains since IPO wiped out on revelations Truth Social actually lost over $58 million last year. https://t.co/NwxBhL6SgB
Trump Media stock fell more than 21% after the company disclosed a $58 million loss for 2023. https://t.co/R93G7WcMBc
Shares of Truth Social owner Trump Media & Technology Group plunged Monday after the company disclosed that it lost more than $58 million and generated very little revenue in 2023. https://t.co/OHwSyBzYtB
Trump Media stock falls more than 21% after company discloses $58 million loss for 2023 https://t.co/oZS2F5iTo2 https://t.co/cgPZdlp53J
Trump's Truth Social lost $58 million in 2023, and the stock is taking a hit https://t.co/LJNj540oRt
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%. https://t.co/4e6nmtCACG