Shares of Trump Media & Technology Group (DJT) lost more than one-fifth of their value Monday after the parent company of former President Donald Trump's Truth Social site reported a loss of $58.2 million in 2023, versus a profit of $50.5 million the previous year.

Revenue increased to $4.13 million from $1.47 million in 2022,🌱 but as of the end of 2023, the company had just $2.6 million of cash on hand, the company said.  

Trump Media said it “expects to continue to incur operating losses and negative 澳洲幸运5官方开奖结果体彩网:cash flows from operating activities for the foreseeable future, as it works to expand its user base, attracting ꦑmore platform partners and advertisers.” 

Trump Media 澳洲幸运5官方开奖结果体彩网:began trading last week after going public through a 澳洲幸运5官方开奖结果体彩网:Special Pu💯rpose Acquisition Company (SPAC). Shares had soared in its debut, reaching nearly $80 apiece before fini🌜shing the week at $61.96 per share.

The stock finished Monday at $48.66, a 21.5% decline from Friday. Shares fell as low as $45.26 during Monday's session.

UPDATE: This article has been updated with closing share price information.