Trump Media’s shares were hovering around $37 as of Monday morning, after closing Friday at about $40. The latest numbers mark a steep fall for the Truth Social parent, whose shares initially climbed above $79 after going public nearly two weeks ago.
The company’s steady downward slide began last Monday, after it reported a $58 million loss in 2023. While Trump Media generated about $4.1 million in revenue last year, it spent roughly $16 million on operating expenses and $39.4 million on interest expenses, according to regulatory filings.
The Truth Social parent also noted that it “expects to continue to incur operating losses and negative cash flows from operating activities for the foreseeable future” and that “it is premature for [Trump Media] to predict when it will attain profitability and positive cash flows from its operations.”
However, Trump Media CEO Devin Nunes argued Sunday that the company is “well positioned” to turn profitable.
“Even if you take the ridiculous cost that it took us to get to this point, we are well positioned,” Nunes told Fox News host Maria Bartiromo on “Sunday Morning Futures.”
“Why are we well positioned?” he continued. “Because we have no debt. We’re coming out of this with no debt, a platform that works really, really well that communicates to millions of people, and then we have $200 million in the bank.”
Financial information on Trump Media’s first quarter performance is not yet available. The company received an influx of $300 million after merging with the blank check company Digital World Acquisition Corp. in order to go public.
Read more in a full report at TheHill.com.
