Trump Media & Technology Group shares slump
Shares of Trump Media & Technology Group, owned by former President Donald J. Trump, slumped more than 20% as the initial excitement around the company's public debut waned. Despite the drop, the company's market value remains around $6.5 billion.
Key Points
- Shares slumped over 20% as initial excitement faded
- Market value now around $6.5 billion
Pros
- Initial market value reached $10 billion
- Strong support for the company after merging with a public shell company
Cons
- Company generated only $4.1 million in revenue in 2023
- Recorded a $58 million loss in 2023