Trump’s media company lost over 1.4 billion crowns, shares fell sharply

Trump’s media company lost over 1.4 billion crowns, shares fell sharply
Trump’s media company lost over 1.4 billion crowns, shares fell sharply
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TMTG’s revenue last year was only $4.1 million. They raised nothing from 1.5 million dollars in 2022. Last year, the company reported a certain profit of 50.5 million dollars, it owed a lot of foreign tax loans for it, the DPA agency wrote. According to the DPA, the daily data shows that Truth Social has problems in generating demand from advertising.

At first, for the regulators, the TMTG company also raised doubts about whether it will have enough money to meet its financial obligations due to high operating losses. According to the DPA, however, in the United States this is a common warning to investors, which does not necessarily lead to insolvency.

TMTG went public last week through publicly traded company Digital World Acquisition. According to TMTG, Trump initially polled roughly 57 percent. It applies to the ban on the sale of TMTG shares for a period of six months from their entry into the stock exchange.

TMTG shares started trading on the stock exchange last Thursday, when their price at one point showed an increase of 60 percent and was close to 80 dollars per piece. Later, however, the shares weakened. After 20:00 SEL today, moles were trading at about $47, down about 24 percent from last year. They were thus below their issue price of $49.95 per piece.

The article is in Czech

Tags: Trumps media company lost billion crowns shares fell sharply

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