Shares dropped more than 23% as investors scrutinize fundamentals of company’s business
Shares in Donald Trump’s Truth Social dropped more than 23% on Monday as the social media company revealed it lost $58.2m last year and an auditor disclosed “substantial doubt” over its ability to continue operating.
An extraordinary stock market debut last week left Trump Media & Technology Group valued at more than $7bn. But it generated sales of just $4.13m in 2023, according to regulatory filings.
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