Truth Social surges but questions remain
By Drew Harwell
March 26, 2024 at 5:00 p.m. EDT
... Trump Media & Technology Group, which owns the social network Truth Social, saw its share price close up 16 percent, though that was down from a high of 50 percent hours into its first day on the Nasdaq exchange ...
The company’s valuation, however, stands at odds with its business performance. Trump Media earned about $3.4 million in revenue and lost $49 million in the first nine months of 2023, a Securities and Exchange Commission filing shows.
The Trump company’s shares ended Tuesday at $58, only a few dollars below the stock price of the discussion-board platform Reddit, which went public last week. Last year, Reddit generated more than $800 million in revenue ...
When Trump Media and Digital World announced their plans to merge in 2021, Digital World’s share price skyrocketed too, to a high of $175 a share. But the stock plunged in the days afterward and faced years of low prices and volatility due in part to merger delays. Its shares were selling for about $17 at the start of this year ...
https://www.washingtonpost.com/technology/2024/03/26/truth-social-trump-djt-social-media-stock/