Trump Media Shares Plunge 21% Post Debut, Revenue Climbs

Shares of Trump's Social Media Company See Steep Decline

Donald Trump's social media venture, Trump Media & Technology Group (TMTG), faced a turbulent market day with its shares plummeting 21%. This unexpected downturn eradicated the gains it had amassed upon its high-profile debut, revealing underlying financial strains, including substantial losses amounting to over $58 million in 2023. The Truth Social platform, despite initial excitement and a soaring stock value during its public introduction, encountered a major setback following a disclosure that cast doubt on its financial sustainability.