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Excerpt from www.tipranks.com
So, while we’ve been watching social media companyTruth Social (NASDAQ:DJT) pretty closely over the last several weeks, we’ve often been left stymied as to why its share price moves in the direction it does. Announcements that should be good news have little effect, while the price will race up or down on virtually nothing happening. Today, Truth Social rolled out its earnings, and despite a hefty loss, share prices rose fractionally in the closing minutes of Wednesday’s trading.
The centerpiece of the report featured a loss of $327.6 million for the first quarter. That is significantly more than the losses posted this time last year when it lost just $210,300. Those massive losses were essentially connected to Truth Social’s initial public offering.
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