Trump Media who is the parent company of Truth Social has lost massive amounts of cash in Q1 of their fiscal year. How much cash? Variety has the answer:
Trump Media and Technology Group, the company affiliated with former U.S. president Donald Trump that operates Truth Social, reported $770,500 in revenue for the first quarter of 2024 and a net loss of $327.6 million.
So in short, Trump Media has earned next to nothing in Q1, and lost an insane amount of money in Q1. For any other business, this would be pretty much fatal. But somehow, these guys are still operating. At least for now. The long and short of it that this is a meme stock. And there’s no scenario that I can see where this changes.
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This entry was posted on May 21, 2024 at 9:00 am and is filed under Commentary with tags Donald Trump. You can follow any responses to this entry through the RSS 2.0 feed.
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Trump Media Loses $327 Million During Q1
Trump Media who is the parent company of Truth Social has lost massive amounts of cash in Q1 of their fiscal year. How much cash? Variety has the answer:
Trump Media and Technology Group, the company affiliated with former U.S. president Donald Trump that operates Truth Social, reported $770,500 in revenue for the first quarter of 2024 and a net loss of $327.6 million.
So in short, Trump Media has earned next to nothing in Q1, and lost an insane amount of money in Q1. For any other business, this would be pretty much fatal. But somehow, these guys are still operating. At least for now. The long and short of it that this is a meme stock. And there’s no scenario that I can see where this changes.
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This entry was posted on May 21, 2024 at 9:00 am and is filed under Commentary with tags Donald Trump. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.