Trump Media studies $16 million loss for quarter as income falls
This picture illustration exhibits a picture of former President Donald Trump mirrored in a cellphone display screen that’s displaying the Reality Social app, in Washington, DC, on February 21, 2022.
Stefani Reynolds | AFP | Getty Photos
Trump Media, the social media firm whose majority shareholder is former President Donald Trump, on Friday reported a web lack of greater than $16 million for the latest monetary quarter.
Trump Media, which owns the Truth Social app typically utilized by the former president, additionally reported decrease income for the quarter that ended June 30, in comparison with the identical interval final yr.
The inventory worth of Trump Media, which trades beneath the DJT ticker, has fallen sharply from a excessive of greater than $71 per share shortly after started publicly buying and selling in late March following a merger with a so-called particular acquisition company, to shut at $26.21 per share Friday afternoon.
The Republican presidential nominee Trump and his working mate Sen. JD Vance are set to face the Democratic nominee, Vice President Kamala Harris, and Minnesota Gov. Tim Walz in November’s election.
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