Trump Media loses $19.2 million in third quarter, surprise Election Day filing reveals

Published On Nov 5, 2024, 5:20 PM

Trump Media reported a loss of $19.2 million for the third quarter, with revenues declining by 5.6% to $1.01 million compared to the previous year. The announcement, made unexpectedly on Election Day, surprised traders as the company faces a significant downturn in its operations. Although the stock initially surged during the day, it closed down by 1.2%, but showed some positive movement in after-hours trading. The company's shares have been quite volatile, having dropped over 34% in the past week but are still up 93% year to date.

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Negative

Given the significant losses and declining revenue, combined with the surprise nature of the filing, investor confidence may be shaken leading to potentially continued declines in stock value. The stock's recent volatility suggests uncertainty and risk, particularly in the wake of Election Day outcomes.

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