Trump Media Stock Plunge and Financial Details
Shares of Trump Media plunged more than 15% after the company filed to issue millions of additional shares of stock. Trump Media's share price has fallen over 62% since going public. Company predicts to receive $247.1 million from exercising warrants. Trump owns nearly 60% of the company's shares, currently worth over $2.2 billion. Trump encouraged followers to switch to Truth Social, which has not publicly disclosed user numbers, but reported a net loss of $58.2 million on revenue of $4.1 million in 2023.
Key Points
- Trump Media's share price has fallen over 62% since going public
- The company filed to issue millions of additional shares of stock
- Trump owns nearly 60% of the company's shares, currently worth over $2.2 billion
- Trump encouraged followers to switch to Truth Social, but user numbers are undisclosed
- The company reported a net loss of $58.2 million on revenue of $4.1 million in 2023
Pros
- Trump Media predicts to receive significant funds from exercising warrants
- Potential for Trump and insiders to receive windfall if stock price remains high
Cons
- Company's stock price has fallen dramatically since going public
- Trump's social media following has decreased after switching to Truth Social