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Trumpmediawhich experienced a flurry of trading activity on Tuesday as a possible indicator of Donald Trump’s presidential chances, revealed a third-quarter loss after the closing bell on Tuesday, along with a slight decline in already meager sales.
The Truth Social parent lost $19.2 million in the period. Revenue fell 5.6% to just $1.01 million from the same period last year. The filing was not telegraphed to investors in advance and came as a surprise to traders who were not expecting it on Election Day, the very day the former president and Trump Media majority owner faces off against Vice President Kamala Harris.
Shares rose more than 6% in after-hours trading after the filing. Earlier in the day, the stock gave up an 18.6% rise to close 1.2% lower. Depending on election results, stocks could move in the afternoon or on Wednesday.
Trump Media, which trades under the ticker DJT, has seen volatile trading lately. The price has fallen by more than 34% in the past week. However, it is still up 93% this year.
The stock’s volume has more than doubled from its 30-day average volume.
Trump Media also reported about $2.6 million in revenue and a net loss of $363 million for the first nine months of 2024. Additionally, the company boasted that it ended the third quarter with $673 million in cash and investments, and no debt. .
“This was an extraordinary quarter for the company,” CEO Devin Nunes said in a statement. Trump Media continues to “explore additional opportunities for growth.”
– Additional reporting by CNBC’s Kevin Breuninger