Trump Media share price plummeted on Monday after Truth Social reported a net loss of $58.2 million in 2023.
Shares of Trump Media & Technology Group, the parent company of Trump’s Truth Social platform, were trading down by more than 25% around 1:08 p.m.
The Trump Media shares plunge came after the company reported a loss of $58 million last year in Monday filings with the Securities and Exchange Commission (SEC).
Trump Media made $4.1 million in revenue in 2023 — and roughly $750,000 in the fourth quarter of 2023 — compared to $16 million spent on operating expenses and $39.4 million on interest expenses, according to the filing.
