Shares of Trump Media & Technology Group continue to rapidly fall back to Earth.
The Truth Social owner dropped by another 8 per cent on Monday , adding to a brutal week that wiped out a third of the stock's value.stake in the controversial company to about $US2.9 billion .Donald Trump has lost more than $US2 billion since shares in his Truth Social network went public.
Trump owns a dominant stake of 78.8 million shares in Trump Media, which launched in 2021. Its plan to go public by merging with a shell company was delayed for years by regulatory and legal scrutiny. Last week, Trump Media disclosed losing $US58 million last year on very light revenue of just $US4.1 million.By comparison, Twitter generated more than 100 times as much revenue – $US665 million — in 2013 ahead of its initial public offering in November of that year.
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