From Morningstar: 2024-04-03 05:43:00

In January 2022, Digital World Acquisition Corp. planned to acquire Trump Media & Technology Group. However, delays, poor financial results, and ongoing SEC investigations led to an 87% stock price drop to $12.46.

Despite Trump Media’s poor financials, its merger with DWAC in 2023 boosted the newly public Trump Media & Technology Group’s value, though exact figures remain uncertain. Investors’ interest in Trump Media appears to be more about affiliation and beliefs rather than future cash flows.

Recent SEC filings revealed Trump Media’s revenue drop to an annualised $3 million in the fourth quarter of 2023. This led to a 25% stock value decrease, indicating that shareholders do care about the business operations, challenging the notion that Trump Media is akin to a cryptocurrency.



Read more at Morningstar: Trump Media isn’t a Meme Stock, it’s a Cryptocurrency