Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign town hall meeting on October 20, 2024 in Lancaster, Pennsylvania.
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. The company revealed after the close on Tuesday that it had a third-quarter loss, with already meager revenue also down 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 to happen on Election Day, just before the former president and major shareholder of Trump Media faced off against Vice President Kamala Harris. one day.
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. It has fallen more than 34% in the past week. 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. On top of that, the company boasted that it ended the third quarter with $673 million in cash and investments and no debt.
“This has been an extraordinary quarter for the company,” CEO Devin Nunes said in a statement. Trump Media is continuing to “explore additional growth possibilities.”
—Additional reporting by CNBC’s Kevin Breuninger
