Trump’s Truth Social reveals $58m loss as auditor raises doubts about viability
Shares dropped by as much as 25% as investors scrutinize fundamentals of company’s businessShares in Donald Trump’s Truth Social dropped by as much as 25% on Monday after the social media company revealed it lost $58.2m last year and an auditor disclosed “substantial doubt” over its ability to continue operating.An extraordinary stock market debut last week left Trump Media & Technology Group valued at more than $7bn. But it generated sales of just $4.13m in 2023, according to regulatory filings. Continue reading...
Shares dropped by as much as 25% as investors scrutinize fundamentals of company’s business
Shares in Donald Trump’s Truth Social dropped by as much as 25% on Monday after the social media company revealed it lost $58.2m last year and an auditor disclosed “substantial doubt” over its ability to continue operating.
An extraordinary stock market debut last week left Trump Media & Technology Group valued at more than $7bn. But it generated sales of just $4.13m in 2023, according to regulatory filings. Continue reading...
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