Trump Media Shares Plunge as Company Posts $58 Million Loss, Truth Social Users Decline

Shares of Trump Media & Technology Group plunged 24% after the company disclosed a $58 million loss and just $4 million in revenue in 2023
Revenue tumbled 39% year-over-year in the fourth quarter to just $751,500
Accountants warned Trump Media may not be able to stay in business, though a recent influx of $300 million in cash could provide a lifeline
Truth Social is shrinking, with monthly active US users on mobile plunging 51% year-over-year to just 494,000
2024 is seen as a "make-or-break year" for Trump Media as it tries to capitalize on election spending