After their Securities and Exchange Commission filing showed a $58 million loss in 2023, Trump Media stock fell 14% Monday morning. The Malignant Loser has significant stock holdings (57%) in the company. From CNBC:
"The share price of Trump Media fell sharply Monday morning after the social media app company closely tied to former president Donald Trump reported a net loss of $58.2 million on revenue of just $4.1 million in 2023.
Despite that plunge, the company's market capitalization was still more than $6 billion after its 8-K filing with the Securities and Exchange Commission revealed the loss for last year. [snip]
The losses last year by Trump Media — the owner of the Truth Social app routinely used by the former president — could continue for some time, the company told regulators.
'TMTG expects to incur operating losses for the foreseeable future,' says the filing, which came a week after the company began trading under the ticker DJT on the Nasdaq.
The filing also warns shareholders that Trump's involvement in the company could put it at greater risk than other social media companies." (our emphasis)
Trump Media's initial offering seems to have focused on extracting money from the Malignant Loser's cult members in a suspicious "pump and dump" scheme. The board that oversees the company is loaded with his toadies who will try their best to enrich their cult leader, unless the SEC or investors intervene. The report continues:
"Analysts note that the company's high valuation is partly due to stock purchases by Trump's political supporters, who are enthusiastic about owning part of a company so closely associated with the presumptive Republican presidential nominee.
That enthusiasm creates unique risks for the company, however. The new 8-K filing says that Trump Media 'may be subject to greater risks than typical social media platforms because of the focus of its offerings and the involvement of President Trump.'
'These risks include active discouragement of users, harassment of advertisers or content providers, increased risk of hacking of TMTG's platform, lesser need for Truth Social if First Amendment speech is not suppressed, criticism of Truth Social for its moderation practices, and increased stockholder suits.'" (our emphasis)
In other words, the Malignant Loser is the primary risk factor due to his unhinged sociopathic, narcissistic, and defamatory behavior, among other traits. His cultists deserve to lose their savings over this latest scam, if they have any left over from purchasing his golden high tops and $60 Bibles.
UPDATE: The stock closed 21% lower today, as the Malignant Loser lost $1 billion in value.
