Trump Media says its second-quarter revenue plunged 30% to under $900,000
CBSN
Trump Media and Technology Group, the social media business owned by former President Donald Trump, said its second-quarter revenue plunged 30% to $836,900 from a year earlier.
The company, whose main asset is the social media network Truth Social, also reported losing $16.4 million during the quarter, representing a narrower shortfall from its $22.8 million loss in the year-earlier period, according to a Friday regulatory filing.
Trump Media, which trades under the ticker DJT — Trump's initials — has drawn a base of small investors who are acolytes of the former president, with many following the stock's ups and downs on Truth Social. While company shares have plunged 51% in the last three months, Trump Media still commands a valuation of about $5 billion, according to financial data firm FactSet.
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