Trump Media and Technology Group is the owner of former President Donald Trump's social networking site Truth Social.
For the three-month period that ended March 31, the company posted a loss of $327.6 million, which it said included $311 million in non-cash expenses related to its merger with a company called Digital World Acquisition Corp., which was essentially a pile of cash looking for a target to merge with. It’s an example of what’s called a special purpose acquisition company, or SPAC, which can give young companies quicker and easier routes to getting their shares trading publicly.
“At this early stage in the Company’s development, TMTG remains focused on long-term product development, rather than quarterly revenue,” Trump Media said in its The former president’s media company dismissed BF Borgers as its independent public accounting firm on May 3, delaying the filing of the quarterly earnings report, according to a securities filings.
Trump Media had previously cycled through at least two other auditors — one that resigned in July 2023, and another that was terminated its the board in March, just as it was re-hiring BF Borgers. Shares of Trump Media climbed 36 cents to $48.74 in after-hours trading. The stock, which trades under the ticker symbol “DJT,” began trading on Nasdaq in March and peaked at nearly $80 in late March.TIME may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump awarded 36 million more Trump Media shares worth £1.4 billionMr Trump was awarded the shares based on the company’s stock hitting certain price benchmarks.
Read more »
Trump awarded 36 million more Trump Media shares worth £1.4 billionMr Trump was awarded the shares based on the company’s stock hitting certain price benchmarks.
Read more »
Trump hush money trial latest: Trump fined over social media posts as hush money trial restartsDonald Trump is back in court for his hush money trial, the first criminal case against a former US president. It is one of multiple legal issues for Trump, who also found himself at the centre of a Supreme Court hearing last week.
Read more »
Make Meta and other technology giants clean up social mediaA former Meta worker has blown the whistle to say his former employer is not doing enough to stop harmful content to young people.
Read more »
Social media sites could use facial recognition technology to prevent children accessing harmful...Social media giants could use facial recognition to prevent children accessing violent content, new Ofcom guidance suggests.
Read more »
Social media sites could use facial recognition technology to prevent children accessing harmful...Social media giants could use facial recognition to prevent children accessing violent content, new Ofcom guidance suggests.
Read more »