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Trump Media's Election Day Stock Plunge and Q3 Losses
Trump Media's DJT stock had a turbulent Election Day, plunging and halting trading multiple times, while the company's third-quarter earnings revealed continued losses and revenue decline.
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United States
PoliticsUs PoliticsEntertainmentSocial MediaStock MarketFinanceEarnings
Trump Media & Technology GroupNew York Stock ExchangePolymarket
Donald TrumpDevin NunesKamala Harris
- What happened to DJT stock on Election Day 2024?
- Trump Media & Technology Group (TMGT) experienced a volatile Election Day, with its DJT stock plunging and trading halted three times. The company also released its third-quarter earnings, revealing continued revenue decline and losses.
- How did TMGT CEO Devin Nunes characterize the third quarter?
- TMGT CEO Devin Nunes described the quarter as 'extraordinary,' highlighting the company's mission of free speech and its support from retail investors. However, the financial results paint a picture of ongoing financial struggles.
- Describe the performance of DJT stock since its public debut.
- DJT stock initially surged on Election Day before closing down 1%. The stock's price has shown extreme volatility since its public debut in March, influenced by news about Trump and market speculation.
- What is Donald Trump's stake in Trump Media & Technology Group?
- Donald Trump owns approximately 57% of Trump Media & Technology Group. His stake has fluctuated dramatically with the stock price, reaching a high value of \$5.2 billion and dropping as low as \$1.4 billion.
- What were Trump Media & Technology Group's third-quarter financial results?
- TMGT reported a loss of \$19.2 million in the third quarter, with revenue declining 5.6% year-over-year to \$1.01 million. This represents an improvement compared to the previous quarter's 30% revenue drop.