Trump’s Social Media Company Posts Q1 Revenue of $770,500 and Net Loss of $327.6 Million

[Remote]

Trump’s Social Media Company Posts Q1 Revenue of $770,500 and Net Loss of $327.6 Million

Trump Media and Technology Group reported $770,500 in revenue for the first quarter of 2024 and a net loss of $327.6 million.

variety.com

Trump Media and Technology Group, the company affiliated with former U.S. president Donald Trump that operates Truth Social, reported $770,500 in revenue for the first quarter of 2024 and a net loss of $327.6 million.

Shares in Sarasota, Fla.-based TMTG — which says it is a “safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations” — began trading March 26, 2024, on Nasdaq under the ticker symbol “DJT” following its merger with special purpose acquisition company Digital World Acquisition Corp. (DWAC). At Monday’s closing price of $48.38/share, TMTG has a market capitalization of about $6.6 billion.

Trump owns about 64.9% of the outstanding shares in Trump Media & Technology Group, making his stake worth about $5.5 billion currently (though he is restricted from selling TMTG shares for the six-month period after the company’s stock started trading publicly). His holdings of 114.75 million shares include 36 million in “earnout shares” officially determined by TMTG on April 26 in accordance with the DWAC merger agreement.

...go to link for full story. I'm not copying it all here.

 

[Koapa]

Fukking loser

 

[humminbird]

absolutely horrible
SEC should be ashamed of themselves for letting this dumpster stock be public
I know it's by design but still

 

[Charlie Hustle]

 

[BK The Great]

Once a scammer, always a scammer.

 

[DonB90]

The game is the game. the GOAT scammer/conman in American history when you think about it

 

[XannyWarbucks]

$cam $eason

 

[BaggerofTea]

Shows you that much of the stock market is a scam/scheme

 

[King Poetic]

Dude was never that smart anyway

Lived off his daddy name and riches, got people in his circle who are yes men and women who is willing to do anything to stay in his good graces and con his way through life even to the presidency that white privilege is something else

U see how he wanted to talk about Obama college degree years ago but had his college records block, he didn’t want to show people he was a C-/D student

 

[Htrb-nvr-blk-&-ug-as-evr]

Probably losing money on purpose as a way for his shytty companies to avoid paying taxes. That’s always that cracker’s M.O.

 

[Professor Emeritus]

Fukking loser

It's a loser company, but he's going to make plenty of money off of it due to his idiotic fan base buying the stock.

Probably losing money on purpose as a way for his shytty companies to avoid paying taxes. That’s always that cracker’s M.O.

That implies that he could make money if he tried though, which he obviously can't.


Literally the only successful enterprises he's ever had is getting cozy with state/local government officials to set up segregated apartments and crooked real estate deals (then not paying the contractors who actually do the work), renting out Trump Tower rooms, licensing the Trump name, and doing the Apprentice. EVERYTHING else he has ever tried has lost money and failed.