Trump Media & Technology Group shares tumbled more than 14% Monday after the company disclosed it lost more than $58 million in 2023.
DJT shares are down 15.75% as of 11:33 am ET on Monday, trading at $52.20 per share. Last week, the stock climbed over $79 in intraday trading after it closed its blank-check deal. Trump Media’s revenue in 2023 rose from the $1.47 million reported for 2022. The company posted a $50.5 million profit in 2022, which was boosted by a change in the value of its convertible notes.Truth Social stock is up 341% over the past year and Trump is now on Frobest 500 richest people list. Cry harder. The only people losing are Americans while Biden is in office.
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