Trump Media stock closes 21% lower after company reports $58 million loss for 2023
www.cnbc.com
Trump Media, whose majority shareholder is former President Donald Trump, "expects to incur operating losses for the foreseeable future," the filing says.
  • Ersatz86@lemmy.world
    1101·
    7 months ago

    My smile grew larger with each paragraph.

    But I reached near-euphoria with these masterpieces of financial journalism:

    The filing also warns shareholders that Trump’s involvement in the company could put it at greater risk than other social media companies.

    and…

    TMTG also disclosed to regulators that the company had identified “material weaknesses in its internal control over financial reporting” when it prepared a previous financial statement for the first three quarters of 2023.

    😁

    • ozoned@lemmy.world
      62·
      7 months ago

      If anyone checked the filing presentation they literally put questions marks for their profitability. It was HILLARIOUS.

        • Billiam@lemmy.world
          30·
          7 months ago

          Holy goddamn shit, that’s not even the funniest part of that! They estimate $3.6 billion in revenue by 2026? What fucking super-adderall-DMT-coke-meth-unicorn-fart drug are they smoking?

          • EvilBit@lemmy.world
            11·
            7 months ago

            If they install a dictator and ban all other social media and also ban not participating in social media, then yeah, that’s actually a pretty conservative estimate.

          • GiuseppeAndTheYeti@midwest.socialEnglish
            4·
            7 months ago

            They even mentioned that they estimated 15M monetized users and 10M recurring media subscriptions. So they’re estimating $1.2B per year for the next 3 years of those 25M users. That’s $48/mo between those 2 types of subscriptions. In the presentation they directly compared themselves to Twitter who charges $11/mo and Netflix, Apple, Disney+, and Amazon who all charge between $4.99 and $8.99 per month for basic service.

            That’s AT MOST $20/mo if all of those users paid for both. Which they dont even claim. So a competitive price for a Twitter blue alternative would net them ~$180M and ~$100M from media subscriptions. Where in the world are they getting the other $920M in their projections?

        • GiuseppeAndTheYeti@midwest.socialEnglish
          2·
          7 months ago

          From page 25 of this presentation:

          A graphic shows a Trump post on Truth social that reads.

          Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut pretium pretium tempor. Ut eget imperdiet neque.

          Which google translates to:

          The customer is very important, the customer will be followed by the customer. In order to pay the price in time. It does not need financing.

          • Billiam@lemmy.world
            6·
            7 months ago

            Lorem ipsum is a pretty common placeholder text in publishing, to give an idea of what a font/page layout would look like.

            In other words, they thought it safer to use random placeholder gibberish for their presentation, than use Trump’s actual shitposts.

      • Shirasho@lemmings.world
        14·
        7 months ago

        So they either did not do proper finance analysis or they are hiding numbers from shareholders, neither of which inspire confidence.

  • Minotaur@lemm.ee
    461·
    7 months ago

    Was just listening to an NPR story on this. You could really tell they were toeing the line of just saying “the stock market is bullshit and nothing in it means anything anymore” but not really having the nerve.

    The Trump Media conglomerate makes essentially no money. It really doesn’t. Sparse, very few ads. Maybe no subscription service. But it still is massively valued on the stock market basically because a bunch of chuds really like Trump and big investors see it as an easy way to “bet” on who will win the presidency.

    The whole thing is a giant spin on the roulette wheel. It’ll either crash and burn or Trump will win and it’ll probably soar into the air again.

        • thisbenzingring@lemmy.sdf.orgEnglish
          53·
          7 months ago

          At least she is using a skill that touches people in a way that that clearly is special. If she wasn’t a beautiful and sexy woman, it probably wouldn’t work the same way. Still, she is the type of billionaire I don’t mind seeing created. They should be taxed so every billion is exponentially harder to acquire.

    • Snapz@lemmy.world
      5·
      7 months ago

      “You gotta lose money to declare bankruptcy for the 7th time…”

      • donald trump, demonstrably the biggest loser of all time from about any measure outside of volume of fish sandwich diarrhea generated by a human
  • Optional@lemmy.world
    15·
    7 months ago

    Hey, hey now. People. Seriously, let’s look at the basic facts here. This is a business that donawld trump owns, okay. I mean - heh - what more do you need? All of his businesses have been stellar successes. Runaway hits, really. And not a single bankruptc- okay yeah there was that one. Two. Okay it - fine three bankruptcies but golly it was a casino okay, you know how hard it is to make money at a casino?? Practically impossible.

    Definite buy. Absolutely. More and more.

  • btaf45@lemmy.world
    152·
    7 months ago

    How the fuck did Convicted Sex Offender Treason Trump spend $58 million on a web site comparible to mastodon.social or lemmy.world? This is the same moron who once said he could build websites comparable to healthcare.com for $3. Lemmy alone has about 2/3 of the number of users as LiesSocial without losing, or spending, $58 million.

    https://tech.co/news/donald-trump-three-dollar-website-2015-06

    [Donald’s $3 Website Trumps Reality]