The stock for former President Donald Trump's social media company has fallen sharply since public trading began last week after an SEC report showed the company's losses last year.
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 media company disclosed that it lost nearly $58.2 million in 2023. The newly public Trump Media stock plunged Monday after the company reported a $58.2 million loss in 2023.launched in 2022 after he was banned from Twitter and Facebook in 2021 during the aftermath of the Jan. 6 insurrection., it plummeted on Monday after the company reported a net loss toppling $58 million, with just over $4.13 million revenue in 2023, according to a Securities and Exchange Commission filing. The company had just $2.
reported. While Trump’s political supporters can help the stock’s success, the filing said that the former president’s involvement also poses a risk, per CNBC.A spokesperson for Susquehanna said last week the firm “has zero economic interest” in Digital World, saying it had offset the value of those purchased shares by taking an equal number of short positions so it could act as market-maker and oversee trading of options in the merged company.