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Trump Media plunges more than 25% after company reports net loss of $58 million in 2023

Posted on AllSides April 1st, 2024
From The Center
Stefani Reynolds | AFP | Getty Images

The share price of Trump Media plunged Monday after the social media app company closely tied to former President Donald Trump reported a net loss of $58.2 million on revenue of just $4.1 million in 2023.

Trump Media & Technology Group shares were trading down by more than 25% around 1:08 p.m. ET.

Despite that drop, the company’s market capitalization was still more than $6.8 billion after its 8-K filing with the Securities and Exchange Commission revealed the loss for last year.

Much of the net loss appears to come from $39.4 million in interest expense, according to the...

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