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.
About Author
More Stories
Europe will never return to Russian gas, European Commission insists
Majority of Australians think China will be world’s most powerful country by 2035, poll finds
Oil and gold prices soar and stock markets fall after Israel’s attacks on Iran