After the report on the miserable situation the company is in?
The stock drops but is STILL at a ridiculous price of $44.59 a share….
Donald Trump’s net worth is dropping rapidly as investors continue to ditch stock in his media and technology company.
Trump Media & Technology Group (TMTG), which owns the right-wing social media platform Truth Social, reported a loss before income taxesof $327.6 million last quarter; that comes out to a net loss of $3.61 per share attributable to shareholders, according to a Monday regulatory filing. Revenue dropped year-over-year to $770,500 from $1.12 million for the three-month period that ended in March.
TMTG stock fell more than 10% Tuesday before parsing some gains and closing at an 8.6% decline, or $44.19 per share. Shares are down almost half a percentage point in pre-market trading Wednesday as some of the more than 621,000 stockholders — most of which are retail investors — sell.
Trump is — by far — the largest owner of TMTG stock. As of Monday, he owned 64.9% of outstanding shares, up from 57.6% in March.
As a result, the former president’s net worth has shed $481 million, a 6.5% decline to $6.9 billion, according to Forbes. That leaves Trump as the 410th richest person in the world, right in between Polish billionaire Michal Solowow and Eswatini’s Nathan Kirsch…..
Trump Media @ $44.16 ⬇️ midday……