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Trump Media and Technology Group posts $770,500 in earnings, spent $327.6 million in 1st quarter

In case math isn't your strong suit, that's a loss of $327 million. TMGG claims that this was due to $331 million in expenses connected to its merger with Digital World Acquisition Corp., but even if you buy that, it's not sustainable to have losses 22 times income.

TMTG is the publicly-traded company that owns TruthSocial, Trump's personal social networking site. Shares continue to trade at $48 despite the company's negative cash flow.

https://www.politico.com/news/2024/05/20/trump-media-lost-300-million-00159052
MarineBob · 56-60, M
Those numbers are better than the federal governments
windinhishair · 61-69, M
@MarineBob Is that right, Bob? So TMTG made $0.771 million and spent $327.6 million, which is more than 425 times earnings. Do you really think the federal government spends 425 times more than revenues?
@MarineBob The deficit exploded under Trump.
Tastyfrzz · 61-69, M
So, in reality, that stock is worthless.
windinhishair · 61-69, M
@Tastyfrzz Absolutely worthless in the real world. Or worth $44.19 at the market close today to the Trump Cult.
@Tastyfrzz Which is why so many people want to short it. The problem with that is there aren't enough shares available.

And correct, the stock is worthless and only propped up by people who think it will explode if Trump is reelected.
DownTheStreet · 51-55, M
Guessing you mean $770k in revenue
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And people want to put their country's budget in his hands
@InOtterWords I’m so sick of them. 😮‍💨
@Colonelmustardseed

It is the same here
The corruption is at every level.in every industry
Handfull1 · 61-69, F
@InOtterWords greed is probably humanities biggest flaw. Followed by the need for power which still flows back to greed!

 
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