US President Donald Trump will sign an executive order on February 14, 2025, establishing the Energy Control Council, led by the Director of the Interior Affairs Office in Washington, D.C. President Trump has signed a second executive order withheld federal funds from schools and universities that will administer the Covid-19 vaccine.
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Trump Media & Technology Group Shares fell by about 1% in Friday’s extension trading after Truth Social operators announced their 2024 results.
The company’s performance is as follows:
Revenue: $2.36 loss per Sharerevenue: $3.6 million
The company’s revenues fell 12% year-on-year, according to its annual report. The company believed its net loss has increased from $58.2 million in 2023 to $400 million.
Trump Media made his debut with NASDAQ under the ticker “DJT” in March last year, completing a merger with the Digital World Acquisition Corporation. In 2024, the stock price almost doubled, and the name Donald Trump won the US presidential election in November. As of the end of Friday, stocks had fallen by about 11% so far, with a market capitalization of $6.59 billion.
In 2024, Trump media was responsible for merger-related legal costs due to former President Biden’s obstruction from the Securities and Exchange Commission, according to the statement. Changes to revenue sharing agreements with advertising partners have led to lower sales. “In addition, revenues vary as we selectively test early advertising initiatives on true social platforms,” the company said in its annual report.
Unlike Meta Other social media companies don’t believe in using traditional metrics such as the number of active users and average revenue per user, Trump Media Management said in its filing. According to the submission, doing so could “distract the focus from a strategic assessment of business progress and growth.”
In the fourth quarter, Trump Media announced the availability of Truth+ Video streaming services on Android, iOS, and The Web.
The company has not made revenue calls since the merger.
As of Friday, the trust, where President Trump is the sole beneficiary, filed that he owns 52% of the company’s voting rights.
Trump has published posts about the true social with 8.9 million followers. The X is owned by Tesla CEO Elon Musk, who has helped Trump administration government efficiency, and Trump has 109.9 million followers.
Trump Media currently has $776.8 million in cash, cash equivalents, short-term investments and $9.6 million in debt.
“If TMTG evolves into a holding company with subsidiaries across several industries, we will continue to explore opportunities to partner, merge and acquire other entities that can function effectively in partnerships,” said the former Republican Congress. Devin Nunes, CEO of the lawmaker, said in a statement.
Watch: Trump Media expands to financial services including CNBC Crypto World
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