The social media platform Truth Social, which was founded by former president Donald Trump, claimed in a regulatory filing on April 1 that it had lost over$ 58 million, sending its stock down over 20 %.
According to the most recent filing with the Securities and Exchange Commission ( SEC ), Trump Media and Technology Group ( TMTG), which trades under the DJT stock ticker, generated about$ 4.1 million in revenue in 2023 while losing$ 58.2 million in net.
According to the filing, the majority of the lost appears to be related to the company’s$ 39.4 million interest expense on its outstanding debts. In 2022, the company made a net profit of$ 50.5 million….
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