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Trump Media shares fall after it posts $327.6 million loss for first quarter [1]

['Rob Beschizza']

Date: 2024-05-22

I'm not surprised that Trump Media only had $700k in revenues last quarter: it's a Trump-themed Twitter clone running on free software with no business plan. But how on Earth does such a thing lose hundreds of millions of dollars every few months? The mind boggles. Anyway, Trump Media's yoyoing stock is down sharply.

The company's share price has whipsawed since it began trading publicly in late March. After scraping a high of more than $79 per share in its debut, the stock suffered a weekslong slide that erased the majority of its gains.

In recent weeks, however, the share price has partially recovered, and as of Tuesday morning hovered around $44.

Despite the company's lack of revenue, it currently boasts a market capitalization of roughly $6 billion

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[1] Url: https://boingboing.net/2024/05/22/trump-media-shares-fall-after-it-posts-300m-loss-for-first-quarter.html

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