Trump Media and Technology Group, the owner of social networking site Truth Social, lost more than $300 million last quarter.
There was a fatal shooting at this year’s ‘Jeep Week’ event on Texas Gulf Coast. Here’s what to knowFILE - The download screen for Truth Social app is seen on a laptop computer, March 20, 2024, in New York. Trump Media and Technology Group, the owner of former President Donald Trump's social networking site Truth Social, lost more than $300 million last quarter, according to its first earnings report as a publicly traded company Monday, May 20.
“At this early stage in the Company’s development, TMTG remains focused on long-term product development, rather than quarterly revenue,” Trump Media said in itsThe former president’s media company dismissed BF Borgers as its independent public accounting firm on May 3, delaying the filing of the quarterly earnings report, according to a securities filings.
Trump Media had previously cycled through at least two other auditors — one that resigned in July 2023, and another that was terminated its the board in March, just as it was re-hiring BF Borgers. Shares of Trump Media climbed 36 cents to $48.74 in after-hours trading. The stock, which trades under the ticker symbol “DJT,” began trading on Nasdaq in March and peaked at nearly $80 in late March.
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