Trump Media Loses $19.2 Million In Third Quarter



Trump Media, which experienced a flurry of trading activity Tuesday as a possible proxy for Donald Trump’s presidency chances, revealed after the closing bell Tuesday a loss for the third quarter along with a sight drop in already-meager revenue, CNBC reported.

The Truth Social parent lost $19.2 million during the period. Revenue fell 5.6% to just $1.01 million from the year-earlier period. The filing was not telegraphed to investors beforehand and came as a surprise to traders not expecting it on Election Day, the very day the former president and Trump Media majority owner squares off against Vice President Kamala Harris.

Shares rose more than 6% in after-hours trading following the filing. Earlier in the day, the stock gave up an 18.6% surge to close 1.2% lower. The shares could move in the after hours or on Wednesday depending on the election results.

Trump Media, which trades under the ticket DJT, has seen volatile trading lately. Over the past week, it is down more than 34%. However it is still 93% year to date.

Volume for the stock more than doubled its average 30-day volume. 

Fortune reported Donald Trump has posted about his personal wealth for decades. But a dollar figure has never been publicly shared — or settled upon. Now that he’s been elected president for the second time, his actually net worth could swing dramatically.

For one, as president, he’ll earn an annual $400,000 salary. For another, he’s currently raking in enormous sums on paper thanks to his hundreds of shares in the parent company of publicly listed social networking site, Trump Media & Technology Group Corp.

The share price of the hugely popular social media platform Truth Social’s parent company has grown over 100% since January and more than 85% over the past month.

Analysts have spent years attempting to ascertain Trump’s precise net worth — and Trump hasn’t helped, by refusing to publish his tax returns over the years. 

What we do know: Trump came into a sizable inheritance from his father Fred Trump’s real estate dealings, and then Trump went on to make major real estate investments for himself, and he secured a bevy of TV licensing deals in the early aughts.

But he also has, in recent years, been buried under a mountain of lawsuits and settlements.

Nonetheless, Bloomberg says real estate — Trump’s original industry — is the main source of his fortune.

Gizmodo reported Donald Trump has won the presidency and businesses connected with him and his allies are soaring. According to early financial reports, winners include banks, crypto-related stocks, and private prison companies. All of the work people in the financial game.

Trump Media & Technology Group’s plummeted in the early hours of the election on Tuesday as people who waited to see who would be elected president. It was up on Monday but crashed so hard during the election that trading of the stock was briefly halted. On November 3, it hit a low of $32.80 a share.

In my opinion, I believe that people who watched the race for the presidency live on TV are either elated or angry about the outcome.