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Trump Media plunges more than 25% after company reports net loss of $58 million in 2023 (www.cnbc.com)

submitted 5 months ago by Rapidcreek@lemmy.world to c/politics@lemmy.world

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[-] Ersatz86@lemmy.world 108 points 5 months ago

My smile grew larger with each paragraph.

But I reached near-euphoria with these masterpieces of financial journalism:

The filing also warns shareholders that Trump's involvement in the company could put it at greater risk than other social media companies.

and…

TMTG also disclosed to regulators that the company had identified "material weaknesses in its internal control over financial reporting" when it prepared a previous financial statement for the first three quarters of 2023.

😁

[-] ozoned@lemmy.world 60 points 5 months ago

If anyone checked the filing presentation they literally put questions marks for their profitability. It was HILLARIOUS.

[-] ozoned@lemmy.world 39 points 5 months ago

Before anyone asks, here it is:

https://www.sec.gov/Archives/edgar/data/1849635/000119312521348593/d242442dex992.htm

[-] Witchfire@lemmy.world 52 points 5 months ago* (last edited 5 months ago)

Lmfao. Here's a pic for the super lazy.

Screenshot showing "?B" for truth social

[-] meco03211@lemmy.world 24 points 5 months ago

I strive to be super lazy. I was disappointed after having already clicked the link and wasted an untold number of seconds finding that slide only to scroll down and see it here.

[-] dditty@lemm.ee 4 points 5 months ago* (last edited 5 months ago)

Ha lmao same 🤣

You're doing God's work firewitch/witchfire

[-] ripcord@lemmy.world 3 points 5 months ago

Same. It was at least 15!

[-] Cavemanfreak@lemm.ee 2 points 5 months ago

at least 15!

Jesud christ! That's almost 41.5k years!

[-] billiam0202@lemmy.world 30 points 5 months ago* (last edited 5 months ago)

Holy goddamn shit, that's not even the funniest part of that! They estimate $3.6 billion in revenue by 2026? What fucking super-adderall-DMT-coke-meth-unicorn-fart drug are they smoking?

[-] EvilBit@lemmy.world 11 points 5 months ago

If they install a dictator and ban all other social media and also ban not participating in social media, then yeah, that’s actually a pretty conservative estimate.

[-] btaf45@lemmy.world 3 points 5 months ago* (last edited 5 months ago)

OMG Hahahahaha

[-] sucricdrawkcab@lemmy.world 9 points 5 months ago

No lie told because that is ridiculous

[-] YurkshireLad@lemmy.ca 6 points 5 months ago

“Big Tent Approach - all are welcome”. 🤣

[-] Shirasho@lemmings.world 13 points 5 months ago

So they either did not do proper finance analysis or they are hiding numbers from shareholders, neither of which inspire confidence.

[-] baldingpudenda@lemmy.world 24 points 5 months ago

Material weaknesses means they "lost" paperwork, right? I'm guessing as that's his only move.

[-] Ersatz86@lemmy.world 20 points 5 months ago

Dunno, I was actually leaning more towards the “indefensible, blatantly criminal fabrication of ‘facts’ of the sort that crumble under even the most casual gaze” kind of material weakness.

[-] RBWells@lemmy.world 10 points 5 months ago

Material weakness means you failed the audit, and the firm will not state that the financial disclosures can be relied on.

[-] YurkshireLad@lemmy.ca 8 points 5 months ago

Look in his bathroom, I’m sure it’s there somewhere.

[-] qantravon@lemmy.world 5 points 5 months ago

He does apparently have a habit of trying to flush documents.

[-] homesweethomeMrL@lemmy.world 3 points 5 months ago

And eat them.

Just saying

[-] qantravon@lemmy.world 3 points 5 months ago

First one, then the other.

[-] thisbenzingring@lemmy.sdf.org 7 points 5 months ago

Material weaknesses

I was looking for its meaning in finance and found this https://www.investopedia.com/terms/m/materialweakness.asp

LOL they are fubar

[-] DarkDarkHouse@lemmy.sdf.org 4 points 5 months ago

What? No. He’s known to also eat documents.

[-] Minotaur@lemm.ee 45 points 5 months ago

Was just listening to an NPR story on this. You could really tell they were toeing the line of just saying “the stock market is bullshit and nothing in it means anything anymore” but not really having the nerve.

The Trump Media conglomerate makes essentially no money. It really doesn’t. Sparse, very few ads. Maybe no subscription service. But it still is massively valued on the stock market basically because a bunch of chuds really like Trump and big investors see it as an easy way to “bet” on who will win the presidency.

The whole thing is a giant spin on the roulette wheel. It’ll either crash and burn or Trump will win and it’ll probably soar into the air again.

[-] SatansMaggotyCumFart@lemmy.world 15 points 5 months ago

That's basically what the stock market is.

[-] FenrirIII@lemmy.world 10 points 5 months ago

Taylor Swift needs to join the stock market.

[-] gedaliyah@lemmy.world 30 points 5 months ago

Well you gotta spend money to lose money. I think that's how the expression goes?

[-] NounsAndWords@lemmy.world 10 points 5 months ago

Well, somebody made money...

[-] Snapz@lemmy.world 5 points 5 months ago* (last edited 5 months ago)

"You gotta lose money to declare bankruptcy for the 7th time..."

donald trump, demonstrably the biggest loser of all time from about any measure outside of volume of fish sandwich diarrhea generated by a human

[-] homesweethomeMrL@lemmy.world 15 points 5 months ago

Hey, hey now. People. Seriously, let’s look at the basic facts here. This is a business that donawld trump owns, okay. I mean - heh - what more do you need? All of his businesses have been stellar successes. Runaway hits, really. And not a single bankruptc- okay yeah there was that one. Two. Okay it - fine three bankruptcies but golly it was a casino okay, you know how hard it is to make money at a casino?? Practically impossible.

Definite buy. Absolutely. More and more.

[-] btaf45@lemmy.world 15 points 5 months ago

How the fuck did Convicted Sex Offender Treason Trump spend $58 million on a web site comparible to mastodon.social or lemmy.world? This is the same moron who once said he could build websites comparable to healthcare.com for $3. Lemmy alone has about 2/3 of the number of users as LiesSocial without losing, or spending, $58 million.

https://tech.co/news/donald-trump-three-dollar-website-2015-06

[Donald’s $3 Website Trumps Reality]

[-] monkeyslikebananas2@lemmy.world 7 points 5 months ago

The answer is fraud. It is always fraud.

[-] monko@lemmy.zip 11 points 5 months ago

God he is so good at losing money rn

[-] AbidanYre@lemmy.world 10 points 5 months ago

Always has been. It's about the only thing he's actually good at.

[-] hperrin@lemmy.world 8 points 5 months ago

He’s also good at sexualizing his daughter. Creepily, disgustingly, probably illegally good at it.

[-] snownyte@kbin.social 1 points 5 months ago

Giving Musk a challenge.

[-] crusa187@lemmy.ml 10 points 5 months ago

trumpty pumpty dumpty

[-] Glowstick@lemmy.world 4 points 5 months ago

So surprising! /s

this post was submitted on 01 Apr 2024

354 points (100.0% liked)

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