He was in free fall the stock of Trump Media, with the company announcing a little earlier losses amounting to 58.2 million dollars. for 2023, with revenues of only 4.1 million dollars.

The financial news sent the stock down more than 25%. Nevertheless, as reported by CNBC, the company’s market capitalization remains above $6.8 billion.

In its statement to the Securities and Exchange Commission, Trump Media, which controls the social network of the former American president, Truth Social, explains that most of the losses due to interest expenses of $39.4 million.

Also, according to the same announcement, Trump Media had in 2022 net profits of 50.5 million dollars. with total sales of just $1.47 million.

The company closed the fiscal year with $2.7 million in cash in its coffers.

At the same time, it is noted that TMTG, which started trading on Nasdaq just last week, predicts that “it will have operating losses in the near future.”

There is additionally and warning to shareholders that Trump’s involvement in the company could put it at greater risk than other social media companies.