By Breck Dumas | FOX Business
Shares of Trump Media & Technology Group (TMTG) plummeted by more than 23% on Monday after the parent company of former President Trump’s Truth Social platform reported it lost nearly $60 million last year.
TMTG, which trades on the Nasdaq under the symbol “DJT,” reported it brought in $4.1 million in revenue in 2023 but had an operating loss of more than $58 million.
The former president’s social media company went public last week through a merger with the use of a special purpose acquisition company, Digital World Acquisition Corp. (DWAC).