A surprise Election Day filing reveals that Trump Media lost $19.2 million in the third quarter.
On Tuesday, the stock market experienced a surge in trading activity, which was interpreted as a reflection of the potential impact of Donald Trump's presidency on the market. After the market closed, it was announced that the company had suffered a loss in the third quarter and a slight decline in revenue.
During the period, the Truth Social parent lost $19.2 million, with revenue falling 5.6% to $1.01 million from the previous year. The filing was not communicated to investors beforehand and caught traders off guard, particularly on Election Day when the former President and Trump Media majority owner faced off against Vice President Kamala Harris.
After the filing, shares were slightly higher in after-hours trading, despite the stock giving up an 18.6% surge earlier in the day and closing 1.2% lower. The shares could move in the after hours or on Wednesday depending on the election results.
DJT, the ticker for Trump Media, has experienced fluctuating trading in recent days. Over the past week, its value has decreased by more than 34%. Despite this, it has increased by 93% year to date.
Volume in the name on Tuesday more than double its average 30-day volume.
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