$58.2M Loss in 2023 Amid Stock Market Debut – Trump Media Venture Struggles
Revenue Grows but Massive Losses Concern Investors in Trump Media – Truth Social‘s Rocky Start
According to PBS News Hour, Trump media company Truth Social had a rough time financially after it lost a huge $58.2 million in 2023 shortly after it started trading on the stock market. This bad news caused Trump media stock price to drop by more than 21 percent. Truth Social made more money in 2023 compared to the year before but with $4.1 million in revenue it still faced a big loss which is worrying for Trump’s main project.
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2023 Takes a Toll on Trump Media: $58 Million Loss and 21% Stock Plunge Make Headlines! (PHOTO: Newsweek)
Stock Plummets, Legal Battles Loom Over Trump Media Future Plans – Truth Social‘s Rollercoaster Ride
Trump Media Truth Social saw its stock price drop to $48.66 on Nasdaq after an initial surge. Comparisons to meme stocks like GameStop arose. Trump facing legal battles and a $175 million payment deadline hopes Truth Social succeeds. Despite his reported $294 million cash reserves recent property sales may have depleted funds. It’s unclear if Trump can sell company shares to cover legal costs.
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