Former President Donald Trump's Trump Media & Technology late Friday reported another quarter of sub-$1 million revenue. Operating losses soared while net losses declined. DJT stock fell Monday after the Donald Trump stock suffered a third straight big weekly loss.
Trump tweeted on Elon Musk's X, hours ahead of a conversation with Musk on that social site Monday night.
Trump Media, which operates the Truth Social site, reported net sales of $836,000, down 30% vs. a year earlier. It was the third straight quarter of roughly $800,000 in revenue, up slightly from Q1's $770,500.
Operating costs soared to $19.5 million vs. $4.9 million a year earlier.
Trump Media's operating loss swelled to $18.7 million from $3.8 million in Q2 2023.
The net loss fell to $16.4 million vs. $22.8 million a year earlier. The company said about half the loss was tied to legal costs, including those related to its reverse merger with Digital World Acquisition Corp. in March. That's how the Donald Trump stock went public.
Donald Trump Stock
DJT stock fell 5.1% to 24.88 on Monday, nearing the lowest levels since Trump Media came public. The Trump stock plunged 10.3% to 26.21 last week.
DJT's retreat over the past few weeks may reflect Trump's declining campaign fortunes. Shares hit a short-term high of 46.27 on July 15 following the Trump assassination attempt. Trump's lead in the polls peaked soon after, with President Joe Biden dropping out of the 2024 race.
Trump-Musk Conversation
Meanwhile, Trump will have a Monday night conversation with Tesla CEO Elon Musk at 8 p.m. ET, on Musk's X social site. There is speculation that Trump could announce his intention to resume posting regularly on X, formerly known as Twitter. That could a blow for Truth Social and DJT stock.
On Monday morning, Trump posted a campaign ad on his @realDonaldTrump account on X, only the second time he's tweeted since January 2021.
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