THE actions of Trump Media & Technology Group (DJT), parent company of the social network Truth Social, recorded an increase of 52% in the negotiation after hours ahead of Donald Trump’s impending victory in the White House election.
During Tuesday’s session, the company’s shares were suspended up to three times due to high volatility, ending yesterday’s session with a price decline. 1.16%.
Trump Media & Technology Group announced yesterday that in the third quarter of the year it recorded losses of 19.2 million dollars (17.6 million euros), compared to the red numbers of $26 million (24 million euros) recorded during the same period of 2023, while revenues totaled $1.01 million (0.9 million euros), 5.6% below of last year’s turnover.
Thus, during the first nine months of the year, the company lost 363 million dollars (333 million euros), almost seven times more than a year earlier, with a drop in income by 22.5%, to the tune of 2.6 million dollars (2.4 million euros).
“It was a extraordinary quarter for the company, for Truth Social users, and for our legion of retail investors who support our mission to serve as a beachhead for free speech on the Internet,” said Devin Nunes, CEO of TMTG.
Trump Media has started trading on the Nasdaq with the symbol DJT on March 26, after finalizing its merger with SPAC (special purpose acquisition company) Digital World Acquisition.
In this way, the company’s securities adopted the same teleprinter with which shares of Trump Hotel & Casino Resorts began trading in 1995, which was declared bankrupt in 2004.
