Trump's Truth Social loses $4 billion in value in one week, while revealing wider loss [CBS News]
Alcoa Corporation (AA)
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Source: CBS News
The plunge in Trump Media & Technology Group's shares, which debuted on March 25 under the ticker "DJT" after the former president's initials, comes as it disclosed mounting losses in a regulatory filing . It also noted that its accountant had issued a warning that its losses "raise substantial doubt about its ability to continue as a going concern." Shares of Trump Media & Technology Group, whose primary asset is the Truth Social platform, tumbled $14.50, or 23%, to $47.46 in Monday afternoon trading. That's below its opening price last Monday of $49.90 per share, and represents a 40% plunge from its high of $79.38 on March 26. To be sure, Trump Media continues to maintain a heady market capitalization for a business that's in the red and booked just $4.1 million in revenue last year. Even after Monday's stock plunge, the business is worth $6.7 billion, making it more valuable than companies like Bausch & Lomb, Alcoa Corp. or Harley-Davidson — all of which have annual revenue in
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Sec Filings
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