Trump's media company lost $58 million in 2023
Source: CNN Business
Updated 11:32 AM EDT, Mon April 1, 2024
New York CNN — Truth Social owner Trump Media & Technology Group disclosed Monday that it lost more than $58 million and generated very little revenue in 2023. The figures underscore why some experts warn Trump Media’s multibillion-dollar valuation defies logic and is reminiscent of the meme stock craze.
In a regulatory filing on Monday, Trump Media said it lost $58.2 million in 2023, compared with a profit of $50.5 million in 2022. The Truth Social owner generated just $4.1 million in revenue, although that was up from $1.5 million in 2022.
The losses are so severe that Trump Media’s accountants warn they “raise substantial doubt about its ability to continue as a going concern,” which is Wall Street for: We may not be able to stay in business (sic). That warning echoes one made in November when accountants said Trump Media might not survive unless it soon completes its merger to go public.
That long-delayed deal was completed last week, paving the way for Trump Media to receive an influx of approximately $300 million in cash. Shares of Trump Media tumbled more than 15% Monday morning following the new filings.
Read more: https://us.cnn.com/2024/04/01/media/truth-social-trump-media-stock-losses/index.html
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Btw Do you think that investors will want to put money into Trump’s money losing
Truth Social?
The price for this stock has no basis in reality. This is a meme stock that only fools should be holding
Link to tweet
we're just not clever enough to understand, obviously. 
