FILE - The Truth Social account for former President Donald Trump is seen on a mobile device, Wednesday, March 20, 2024, in New York. On Monday, April 1, less than a week after a flashy stock market debut, Trump’s social …NEW YORK — 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%.
After merging with a blank-check company called Digital World Acquisition Corp., Trump Media began trading March 26 on the Nasdaq stock market under ticker symbol DJT. And it’s been a volatile ride. On Monday, shares for these so-called meme stocks slid as well, with GameStop and AMC down more than 4% and 15%, respectfully, at market close. And Reddit, another company that recently went public and has since been looped into meme stock frenzy comparisons, slumped nearly 7%.
Last week, Trump won a break when an appeals court cut the amount he needs to put up to pause collection while he appeals to $175 million, which Trump has said he will be able to cover. But he must come up with the money by Thursday.
Technology Technology Latest News, Technology Technology Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »
Source: FoxBusiness - 🏆 458. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Newsweek - 🏆 468. / 52 Read more »