Trump Media and Tech Stocks: Trump’s media companies continue to raise doubts about concerns. stock price decline
The company reported a net loss of $58.2 million for the fiscal year ended December 2023, compared with net income of $50.5 million a year earlier. Last year’s revenue was $4.13 million, up from $1.47 million in 2022, according to the report.
“As of December 31, 2023 and 2022, management had significant doubts about whether TMTG would have sufficient funds to service its maturing debt, including debt related to previously issued promissory notes,” the company said. “He said.
Trump Media said it expects to incur operating losses and negative cash flow in the near future as it works to expand its user base and attract more platform partners and advertisers.
The company’s shares rose more than 16% in its first trading day on March 26 as individual investors, including supporters of former President Donald Trump, flocked to the stock.
However, the stock has since seen choppy trading, falling for the second straight session on Monday. Separately on Monday, a judge in Delaware ruled that the company and Trump Media co-founders Wesley Moss and Andrew Litinsky should receive what they claim is an 8.6% stake in the company. He said he hopes to set a date for the hearing this month. owed. Trump Media and the two men sued each other in courts in Delaware and Florida.
The co-founders accused Trump Media of seeking to improperly dilute their stake. The company said they had not earned a stake and were seeking to strip them of their ownership rights, and wanted a judge to declare that they had no right to appoint the two directors.
