Trump Media plunges more than 25% after company reports net loss of $58 million in 2023

Rapidcreek@lemmy.world to politics @lemmy.world – 353 points –
Trump Media plunges more than 25% after company reports net loss of $58 million in 2023
cnbc.com
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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.

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