---
title: "Stock price plummeted by 21%! Trump Media's net loss in 2023 reached $58 million, with expected continued losses in the future"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/201106176.md"
description: "Trump Media Technology Group's stock price plummeted by 21.47% on Monday, with a net loss of $58.2 million in 2023 and revenue of only $4.1 million. Trump Media is expected to continue to incur losses in the future. Trump owns 57.3% of Trump Media, valued at $3.83 billion"
datetime: "2024-04-02T00:35:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/201106176.md)
  - [en](https://longbridge.com/en/news/201106176.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/201106176.md)
---

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# Stock price plummeted by 21%! Trump Media's net loss in 2023 reached $58 million, with expected continued losses in the future

According to Zhitong Finance APP, the stock price of Donald Trump Media Technology Group (DJT.US) fell by 21.47% on Monday. Earlier, the social media application company associated with former President Trump reported a net loss of $58.2 million for 2023, with revenue of only $4.1 million.

Data shows that the stock price of Trump Media plummeted by over 25% during Monday's trading session, before slightly recovering. Ultimately, the stock closed at $48.66, down more than $30 from its high of $79.38 reached after its listing last week. As of the time of writing, the stock continued to fall by about 4% in after-hours trading.

Despite the significant drop in stock price on Monday, the company's market value still stands at nearly $6.6 billion.

Earlier, Trump Media disclosed its losses for the previous year in an 8-K filing submitted to the U.S. Securities and Exchange Commission.

The filing indicated that most of the net losses for the company seemed to come from $39.4 million in interest expenses. In 2022, Trump Media's net profit was $50.5 million, with total revenue of only $1.47 million. As of 2023, the company had only $2.7 million in cash on hand.

According to Trump Media, the company's losses from last year may continue for some time. Trump Media is the owner of the Truth Social app, which former President Trump frequently uses.

The filing stated, "Trump Media expects to incur operating losses in the foreseeable future." A week ago, the company began trading on the Nasdaq under the ticker symbol DJT.

The filing also warned shareholders that Trump's involvement in the company could expose it to greater risks than other social media companies.

Trump Media also disclosed to regulatory authorities that the company had identified "material weaknesses in internal control over financial reporting" when preparing the previous financial statements for the first three quarters of 2023.

As of Monday, Trump Media stated that these "identified material weaknesses still exist."

It is reported that Trump owns 57.3% of Trump Media, valued at $3.83 billion. Last week, reports indicated that Trump's existing stake far exceeds half of his total net worth.

Trump is also set to receive an additional 36 million shares of so-called profit-sharing stock over the next three years, provided that Trump Media's stock reaches a series of benchmark prices during this period, all of which are significantly lower than the company's stock price earlier on Monday.

Trump Media's stock price began to soar when trading commenced last Tuesday. A few days ago, the company merged with a special purpose acquisition company, Digital World Acquisition Corp., whose trading code is DWAC. The newly merged company is now trading under Trump's initials, DJT.

Analysts point out that part of the company's high valuation is due to Trump's political supporters buying shares, eager to own a part of a company closely associated with the presumed Republican presidential candidate.

However, this enthusiasm has brought unique risks to the company. The new 8-K filing states that Trump Media "may face greater risks than typical social media platforms due to the focus of its products and the involvement of former President Trump." These risks include active dissuasion of users, harassment of advertisers or content providers, increased risk of hacking attacks on the Trump media platform, reduced demand for Truth Social if the First Amendment speech is not suppressed, criticism of Truth Social's moderate practices, and an increase in shareholder lawsuits

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