Shares of Trump Media & Technology Group ( TMTG ) plummeted by more than 23% on Monday after the parent company of former President Trump's Truth Social platform reported it lost nearly $60 million last year. TMTG , which trades on the Nasdaq under the symbol "DJT," reported it brought in $4.1 million in revenue in 2023 but had an operating loss of more than $58 million.
The former president's social media company went public last week through a merger with the use of a special purpose acquisition company, Digital World Acquisition Corp. (DWAC). TRUMP MEDIA SHARES SURGE IN MARKET DEBUT Retail buyers fueled the stock's surge in its March 26 debut, where it climbed to a market value of around $8 billion. But Monday's disclosure brought out sellers, sending the stock down $14.45, or 23%, to $47.51 on more than 14 million shares. It had closed at nearly $58 on its first day of tradin
Source: News Formal (newsformal.com)
Trump Media & Technology Group TMTG Stock Loss Revenue Merger Digital World Acquisition Corp. Market Debut
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