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Figures released Monday by Trump Media and Technology Group (TMTG) show at least an improvement in revenue compared to just under $1.5 million in 2022. At the time, its annual profits were still $50.5 million, thanks to tax credits. was given. The company operates Trump’s social media network, Truth Social.
The figures show the service continues to struggle to attract advertising revenue. Still, the company’s shares rose significantly in its stock market debut last week, making Trump several billion richer, at least on paper.
The company has now warned that it could run out of money due to high losses on its ongoing business. This is a mandatory warning to investors in the US and may not necessarily be followed by bankruptcy.
The share price temporarily fell by more than a fifth after the figures were published on Monday. The stock is publicly traded under the ticker symbol DJT, based on Trump’s initials. TMTG took a shortcut in entering the stock market by merging with a listed corporate shell.
Trump himself owns 78.8 million shares in the company. That stock is now worth about $3.8 billion, based on Monday afternoon prices. The package lost nearly $1 billion in value after the crash.
Trump, 77, wants to move to the White House again on behalf of the Republicans in November. (SDA/neo)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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