Auditor Casts Doubt on Trump Media’s Future Amid $58 Million Loss
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Trump Media and Technology Group, the company behind Truth Social, reported a big loss of $58.2 million in 2023. This news raised concerns from auditors about whether the company can keep going. The report also showed that the company made $4.1 million in total revenues but had to pay over $39 million in interest, which was its biggest expense.
An accounting firm from Colorado, BF Borgers CPA PC, has been working with Trump Media since 2022. In a note dated March 25, they said the company's losses make it uncertain if they can keep operating.
Upon its debut on the Nasdaq stock exchange under the symbol DJT, Trump Media's stock price experienced a surge. However, on Monday, the shares plummeted by more than 21% to $48.66. This drastic drop in value led to the company...