Republican presidential candidate and former U.S. President Trump speaks at a campaign town hall meeting in Lancaster, Pennsylvania, on October 20, 2024.
Brian Snyder | Reuters
Trump MediaThe company experienced a flurry of trading activity after the close on Tuesday that could be indicative of Donald Trump’s chances of being elected president. Revenue also fell slightly.
Truth Social’s parent company lost $19.2 million during the period. Revenue fell 5.6% from the same period last year to only $1.01 million. The filing, which was not telegraphed to investors in advance, surprised traders who had not expected it on Election Day, the day the former president and major shareholder of Trump Media faces off against Vice President Kamala Harris .
Shares were slightly higher in after-hours trading after the filing. The stock gave up an 18.6% gain earlier in the day to close down 1.2%. Shares could move after the bell or on Wednesday, depending on the outcome of the election.
Trump Media, whose stock code is DJT, has been trading volatile recently. Over the past week, the index has fallen more than 34%. However, it is still up 93% year to date.
Volume for the name on Tuesday was more than double its 30-day average.
Trump Media also reported revenue of approximately $2.6 million in the first nine months of 2024 and a net loss of $363 million. , debt-free.
“This has been an extraordinary quarter for the company,” Chief Executive Devin Nunes said in a statement. Trump Media is continuing to “explore additional growth possibilities.”
—Additional reporting by CNBC’s Kevin Breuninger
About The Author
