Trump Media & Technology Group, parent company of President Trump’s ‘Truth Social’ platform, sees stock rise decreased to $48.66 By the close of trading on Monday, it was down $13.30 from its closing price. Opening price is $59.83.
Trump Media makes a strong debut on the stock market, with stock prices $79.38 The first day of trading last month. Last month, the company merged with “blank check” company Digital World Acquisition Corporation (DWAC), allowing Trump’s social media company to go public.
But it is Stock price plummets The company reported a loss of $58 million last year in a filing with the Securities and Exchange Commission (SEC) on Monday.
“We expect to continue to incur operating losses and negative cash flow from operating activities,” the company said Monday. foreseeable futureWe strive to grow our user base and attract more platform partners and advertisers. ”
“Being profitable and generating positive cash flow will depend on TMTG’s success in growing its user base, platform partners, and advertisers,” the company said, citing operations to expand its appeal, such as testing video streaming. It depends on what happens,” he said.
“Given these uncertainties, TMTG believes it is premature to predict when.” achieve profitability and positive cash flow from that business,” he added.
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