The stock of Trump Media & Technology Group (DJT) is down 3% after the social media company launched by the U.S. president reported a bigger-than-expected third-quarter financial loss.
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The company behind the Truth Social platform that is similar to X/Twitter also reported declining revenues for the July through September quarter. Management cited growing expenses as the main reason for the poor results.
The company reported total revenue of $972,900 for the third quarter, down 3.8% from a year earlier. Trump Media also reported a net loss of -$54.8 million, which is much worse than a loss of -$19.2 million reported in the same period of 2024. The company, which has never posted a profit, said it had $20.3 million of legal expenses in Q3.
Declining Fortunes
Trump Media’s revenue mostly comes from advertising on Truth Social, and the company’s finances are closely linked to engagement on the social media platform, which serves as the main communication channel for Trump. The stock’s ticker symbol, DJT, is the president’s initials.
In August of this year, Trump Media announced it is partnering with Crypto.com to launch a new venture that would pursue a treasury-style strategy and accumulate Bitcoin (BTC) and other cryptocurrencies, deepening the U.S. president’s ties to the crypto industry.
Trump Media & Technology Group went public in March 2024 through a special purpose acquisition company (SPAC) deal. Since then, the share price has risen 34%, although it is down 60% this year.
Is DJT Stock a Buy?
Currently, no Wall Street analysts offer ratings or price targets on Trump Media’s stock. So instead, we’ll look at the three-month performance of DJT. As one can see in the chart below, the share price has fallen 22% in the last 12 weeks.
