Tech

Trump Media shares plunge after reporting $58 million loss

Published

2 months ago

April 2, 2024

The share price of Trump Media took a sharp dive on Monday following the company’s disclosure of a significant net loss for 2023.

According to a filing with the Securities and Exchange Commission, Trump Media reported a net loss of $58.2 million on revenue of just $4.1 million for the year 2023.

This substantial loss caused the company’s shares to plummet by more than 25% around 1:08 p.m. ET.

Despite the considerable drop in share price, Trump Media’s market capitalization still stood at over $6.8 billion, reflecting the company’s high valuation even in the face of financial losses.

Cash on hand

The filing revealed that much of the net loss can be attributed to $39.4 million in interest expense.

Additionally, the company ended 2023 with just $2.7 million in cash on hand, further highlighting its financial challenges.

Trump Media warned shareholders that it anticipates continued operating losses for the foreseeable future.

The company’s involvement with former President Trump could also pose additional risks, as outlined in the filing.

Notably, Trump owns a significant portion of Trump Media shares, representing more than half of his total net worth, and stands to receive millions more in shares over the next three years if certain stock price benchmarks are met.

News

Portal between countries shut down after international flashing

Published

17 hours ago

May 16, 2024

Nathan Langridge

An international video portal has been forced to shut down after an OnlyFans model reportedly flashed passersby from across the globe.

On this episode of Ahron and Mike Live – Which would you prefer; pay rise or work perks, an international portal closes, the military reveal a submarine stingray and are you on a top or bottom burger bun?

Ticker’s Ahron Young & Mike Loder discuss. #featured #trending

Leaders

Is cloud technology the solution for every organisation’s needs?

Published

18 hours ago

May 16, 2024

ticker NEWS

Amidst the dominance of cloud technologies in the tech landscape, questions are rising over applicability and its cost implications.

As businesses increasingly migrate to cloud technologies, skepticism is brewing over whether it’s the optimal solution for every organisational need.

Additionally, the notion of “free” cloud services is being challenged, highlighting the importance of understanding the true costs and benefits associated with cloud adoption.

Harsha Patil, Engineering manager, California USA shares his key insights on the cloud conundrum. #featured

News

Does American media have TikTok bias?

Published

24 hours ago

May 16, 2024

ticker NEWS

While the fate of TikTok remains uncertain in the U.S.—there is no shortage of possibilities.

Several investors are hoping to benefit from a new federal law that requires TikTok’s China-based parent company to sell the popular platform or face a ban.

This comes after ByteDance and TikTok filed a lawsuit against the U.S. government to block the law from going into effect.

Meanwhile, eight TikTok creators filed their own challenge, arguing the law violates their First Amendment rights to free speech.

But as the saga continues many media outlets are defending the platform.

David Zhang from China Insider joins Veronica Dudo to discuss. #IN AMERICA TODAY #trending #TikTok #TikTokban #socialmedia #China