It made $4.1M in revenue…….
The new public company’s Truth Media’s shares are on their way down already and are vastly over rated …..
The ex-President’s pimping people for money never lasts long…..
Former President Trump’s social media company lost over $58 million on just $4.1 million in revenue during 2023, according to new SEC filings.
Why it matters: There is a massive disconnect between the financial fundamentals and stock performance of Trump Media & Technology Group, which is valued at more than $7 billion after going public last week.
By the numbers: The company lost top-line momentum, generating only $751,000 in Q4. It had topped $1 million in Q3.
- All of the company’s revenue comes from advertising on Truth Social, per the disclosures.
- Most of its expenses are tied to interest on debt, although TMTG also had around a $16 million operating loss for 2023.
Zoom out: For context, Twitter generated around $665 million in revenue for the year leading into its IPO, and $5.2 billion in the final year before Elon Musk’s takeover.
The big picture: The SPAC merger proceeds make TMTG financially viable for a while, but it’s no longer possible to even pretend that the share price has any relation to the actual business.
- At this point, owning TMTG is basically an in-kind donation to Donald Trump. Both financially and reputationally.
The bottom line: Peak SPAC wasn’t in 2021. It was last week.
Go deeper: Truth Social faces harsh reality as a public company
Update…
The nosedrive in Trump Media shares came after the company reported a loss of $58 million last year in Monday filings with the Securities and Exchange Commission (SEC). Trump Media made $4.1 million in revenue in 2023 — and roughly $750,000 in the fourth quarter of 2023 — compared to $16 million spent on operating expenses and $39.4 million on interest expenses, according to the filing.
Trump Media “expects to continue to incur operating losses and negative cash flows from operating activities for the foreseeable future, as it works to expand its user base, attracting more platform partners and advertisers,” the company said in the Monday filing.
“TMTG’s ability to become profitable and generate positive cash flow depends on TMTG’s success in growing its user base, platform partners, and advertisers,” the company continued, adding that it has begun testing video streaming and other content-hosting capabilities to expand its appeal and use.
“Given these uncertainties, TMTG believes it is premature for TMTG to predict when it will attain profitability and positive cash flows from its operations,” the company said….
More…
Closing at $48.66…..4/1/24
10:30 AM DST NY…..
Trump media up to 50.65 from opening low of 47.33
What’s this?
Your latest obsession?
A daily “ analysis “ of Trump media stock?
This after you informed us the other day that “ who cares if Trump thinks he’s rich.”
I see he posted that $100 million plus bond . Lots of middle class people do that every day,right?
Bond IS $175M
‘He’ didn’t post a nickel……
As i point out he got a insurance company to front the money snd he had to put up collateral for THEM
BTW?
U and both know that if this was anybody bit Trump?
Even a ‘Rich’ guy?
Messing with the judge?
He’d be in jail already…..
Oh?
Yea…….
The stock has come down $29 a share
Lost BILLIONS in value
The board, even with people in it says they won’t let Donald pull money oit….
Worried about shareholder suits driving the stock down faster?
All this media talk about him getting richer off this was straight out Bull Shit
Most stuff he touches turns to shit
This will be included
Trump Media down to $48.81 at the close today…..
Again
Elevator going down
2:21PM DST 4/4/24 …..
Trump Media trading at $45.69
Closes @ $46.15……
Trump Media at $41.68 on its way down again
Update….
Trump’s Biggest Backers Threw Trump Media a Lifeline
New York Times: “It’s not uncommon for start-ups to seek out wealthy investors for financing, but the stock holdings raise questions about the potential for conflicts of interest and undue influence over Mr. Trump should he return to the White House.”
“Other early backers include two Texas billionaires, a Florida hedge fund manager, and a trust with ties to a Russian American owner of an offshore bank who is the nephew of a former high-ranking Russian government official, the documents show.”
CNN: Trump Media stock sinks to post-merger low.
(This ain’t votes…Just money thrown down a hole)
Trump Media stock down to $36.55 12:30PM DST
Trump Media closes up slightly @ $37.47
If anyone cares?
Cornel West to Announce His Running Mate
Cornel West will announce his running mate tomorrow at noon on the Tavis Smiley show.
Politicalwire
Trump Media closes at 51.60
Up slightly