Truth Social
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Former President Donald Trump has sued the co-founders of Truth Social, alleging they mismanaged the social media platform early on and should therefore lose their stock in the company, which recently went public.
In papers filed last week in Florida state court, Trump Media & Technology Group Corp. argued that executives Wes Moss and Andy Litinsky made a series of costly mistakes that resulted in a long delay in the company’s going public and urged a judge to strip them of their shares in the company.
The pair, who were contestants on Trump's NBC show "The Apprentice," had pitched him on the idea of Truth Social after he was banned from what was then known as Twitter following the Jan. 6, 2021, attack on the Capitol.
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https://newrepublic.com/post/182515/trump-media-stock-tanks
Trump Media stock is once again slumping.
Donald Trump’s social media venture reaudited its finances and filed them with the Securities and Exchange Commission Monday, confirming that the company had a whopping net loss of $58.2 million in 2023. As a result, Trump Media shares dropped more than 6 percent Monday afternoon.
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
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https://newrepublic.com/post/182515/trump-media-stock-tanks
Trump Media stock is once again slumping.
Donald Trump’s social media venture reaudited its finances and filed them with the Securities and Exchange Commission Monday, confirming that the company had a whopping net loss of $58.2 million in 2023. As a result, Trump Media shares dropped more than 6 percent Monday afternoon.
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
@taiwan_girl said in Truth Social:
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
The Just Us Department at work, no doubt.
I was only joking
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@taiwan_girl said in Truth Social:
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
The Just Us Department at work, no doubt.
@Doctor-Phibes said in Truth Social:
@taiwan_girl said in Truth Social:
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
The Just Us Department at work, no doubt.
Just “Я” Us
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The new audit confirmed total revenues for 2023 were $4.1MM.
Less than the average chik-fil-a restaurant.
@jon-nyc said in Truth Social:
The new audit confirmed total revenues for 2023 were $4.1MM.
Less than the average chik-fil-a restaurant.
And Truth Social is open on Sundays!
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Facebook revenues were $134B. Every 15 minutes or so Facebook took in as much as truth social did all year.
@jon-nyc said in Truth Social:
Facebook revenues were $134B. Every 15 minutes or so Facebook took in as much as truth social did all year.
Even The Failing New York Times manages $2.4B
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DJT keeps falling; near all-time low.
“Judge rules Trump Media breached stock contract with early investor”
https://www.cnbc.com/2024/09/17/djt-trump-media-stock-lawsuit-lockup.html“Trump's media stock falls before insider trading restrictions lift”
https://www.reuters.com/markets/us/trumps-media-stock-falls-before-insider-trading-restrictions-lift-2024-09-17/“DJT stock: Donald Trump’s stock falls near all-time low”
https://www.fastcompany.com/91192505/djt-stock-donald-trump-media-stock-falls-near-all-time-low-truth-social -
The parent company of President Donald Trump’s social networking site Truth Social says it lost $400.9 million last year and its annual revenue declined 12% to $3.6 million.
Trump Media & Technology Group reported its earnings late Friday, blaming the losses in part on a revenue-sharing agreement with an undisclosed advertising partner.
https://apnews.com/article/trump-media-truth-social-losses-c879294edc8d0297446a3a2f5499b8e3
