Trump Media stock falls more than 21% after company discloses $58 million loss for 2023

FILE - The Truth Social account for former President Donald Trump is seen on a mobile device, Wednesday, March 20, 2024, in New York. On Monday, April 1, less than a week after a flashy stock market debut, Trump's social media company disclosed that it lost nearly $58.2 million in 2023. (AP Photo/John Minchillo, File)

NEW YORK (AP) — Less than a week after a flashy stock market debut, Donald Trump's social media company on Monday disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21%.

Losses in 2023 for Trump Media & Technology Group — whose flagship product is — mark a stark decline compared with the profit of $50.5 million that the former president's company reported for 2022, according to a company filing with securities regulators.

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