Shares in Trump Media tumble after filings reveal a $58m loss last year
Al Jazeera
The company debuted on the stock market last week, offering Trump a ray of hope amid pending financial woes.
Shares in former President Donald Trump’s Trump Media & Technology Group surged last week after debuting on the stock market in the United States.
But a disclosure that the company lost nearly $58.2m in 2023 has sent those stocks tumbling, dropping by 23 percent as of Monday.
The volatile first week, which came in the wake of a merger with the shell company Digital World Acquisition Corp, underscored the unpredictability of a venture that the former president may be relying on for financial salvation.
Trump faces mounting legal penalties and court costs, as he contends with four criminal indictments and a slate of civil cases. He is also running for president in November’s election, and legal fees are reportedly draining his campaign coffers.
