"Trump Media's Truth Social Reports $58 Million Loss, Stock Plunges Over 25%"

Former President Donald Trump's social media company, Truth Social, reported a loss of over $58 million in 2023, causing its stock to plummet by more than 25%. The company's revenue was just over $4 million, significantly lower than its investor-driven valuation. Trump, who owns about 57% of the firm, saw a substantial decrease in his wealth due to the stock's decline. Truth Social has struggled to gain a broad audience and faces financial challenges, including doubts about its ability to pay debts. Despite this, the company aims to invest in marketing, advertising, and technology to expand its user base.