Trump Media Needs to Lose More Money Faster
Donald Trump’s digital media company is not losing money fast enough.
The parent company of the Truth Social social media app, Trump Media & Technology Company, said in a regulatory filing that it lost $58.2 million last year. It took in a total of $4.1 million in revenue, mostly from advertising sales.
Shares sold off sharply after the losses were disclosed. By midday on Monday, the company’s shares were off by about 23 percent. At 1:30 p.m., shares were trading around $47 to $48 per share, which seems like some sort of ironic joke by the gods of financial markets seeing as Trump is seeking to become the 47th president of the United States.
As we predicted when shares soared last week, the decline has been met with gleeful exuberance by Trump’s critics and the financial press. Dan Primack, a well-informed and usually reliable…
