_trump39s-media-group-sees-massive-stock-surge-despite-operating-loss.jpg "Trump's Media Group Sees Massive Stock Surge Despite Operating Loss from dxc stock quote Video Screenshot Preview")
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✓ Published: 28-Mar-2024
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✓ Published: 28-Mar-2024
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Shares of Trump Media & Technology Group surged by 59% on their first trading day on Wall Street, closing with a market capitalization of nearly $8 billion. Despite an operating loss of $10.6 million in the first nine months of 2023, the company's impressive debut followed a merger with Digital World Acquisition. Trump, who owns about 60% of the company, now sees his stake valued at roughly $4.6 billion. The platform, Truth Social, was launched by Trump after mainstream social media bans after the January 6 Capitol riot. The surge in stock value arrives as Trump, running again in the 2024 Presidential election, faces substantial legal challenges, adding to his financial pressure.
Shares of Trump Media & Technology Group surged by 59% on their first trading day on Wall Street, closing with a market capitalization of nearly $8 billion. Despite an operating loss of $10.6 million in the first nine months of 2023, the company's impressive debut followed a merger with Digital World Acquisition. Trump, who owns about 60% of the company, now sees his stake valued at roughly $4.6 billion. The platform, Truth Social, was launched by Trump after mainstream social media bans after the January 6 Capitol riot. The surge in stock value arrives as Trump, running again in the 2024 Presidential election, faces substantial legal challenges, adding to his financial pressure.
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