The MeidasTouch Podcast Trump Stock is TANKING after SEC Filing…
Apr 1, 2024
Financial troubles loom for Trump Media as its stock plummets after a troubling SEC filing reveals a staggering loss of $58 million against just $4.1 million in revenue. Legal issues abound, with numerous lawsuits threatening both Trump and his media group. Additionally, there's a notable decline in traffic and overall performance of Truth Social, casting doubt on its future. Amidst these challenges, a unique habit replacement product called Fume is introduced, aiming to help people ditch unhealthy vices.
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Trump Media Stock Tanking
- Trump Media's stock, trading under $DJT, is tanking after an SEC filing revealed significant financial losses.
- The company generated only $4.1 million in revenue for 2023 while incurring a $58 million net loss.
Inflated Valuation
- Trump Media's valuation is inflated due to its meme stock status, not its fundamentals.
- Ben Meiselas predicts the company's failure due to its unsustainable financial performance.
Executive Compensation
- Key Trump loyalists, including Devin Nunes, Kash Patel, and Dan Scavino, received substantial payments from Trump Media.
- Nunes earned $750,000, while Patel and Scavino received $120,000 and $240,000, respectively, plus a $2.2 million promissory note for Scavino.