Donald Trump’s media company Trump Media & Technology Group reports a net loss of a whopping $58 million, equivalent to approximately SEK 626 million, for 2023.
That’s what CNBC writes.
The loss means that the share plummeted by as much as 25 percent.
The former US president’s company, which was only recently listed on the Nasdaq stock exchange, had revenues of a modest $4.1 million last year.
“Trump Media & Technology Group expects to incur operating losses for the foreseeable future,” the company said in a statement.
According to CNBC, Trump Media has a market value of around $6.5 billion. The company’s flagship is the app Truth Social.