DJT Stock: Trump Media Reports Big Loss, Scant Revenue

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DJT Stock: Trump Media Reports Big Loss, Scant Revenue

Trump Media and Technology (DJT), parent company of Truth Social, reported another quarterly loss while revenue has yet to reach $1 million. DJT stock fell sharply on Tuesday.




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Majority-owned by former President Donald Trump, Trump Media reported an adjusted EBITDA loss of $12.1 million, with just over half of those one-time payments related to the closing of its SPAC merger with Digital World Acquisition Corp.

Revenue was just $770,500, the second quarter in a row below $1 million.

Trump Media reported a GAAP loss of $327.6 million. This was largely due to $311 million in non-cash expenses related to the conversion of promissory notes and the elimination of prior liabilities.

The company believes it has “sufficient working capital to finance its operations for the foreseeable future.”

Actions of Donald Trump

Trump Media stock plunged 8.9% to 44.19 on Tuesday, but found support around the 50-day line. Shares fell 5% to 48.38, its fourth straight decline. DJT stock hit 79.38 in late March, following its post-SPAC debut. Donald Trump stock quickly fell to 22.55 on April 16 before rebounding somewhat.

Please follow Ed Carson on the discussions at @edcarson1971 and X/Twitter on @IBD_ECarson for stock market updates and more.

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