Trump Media Reports $50 Million Losses in First Three Quarters of 2023

United States of America
The company's revenue during this time was less than $3.5 million.
Trump Media reported losses of nearly $50 million over the first three financial quarters of 2023.
Trump Media Reports $50 Million Losses in First Three Quarters of 2023

Trump Media, a company that was recently merged with Digital World Acquisition Corp., has reported losses of nearly $50 million over the first three financial quarters of 2023. The company's revenue during this time was less than $3.5 million.


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Confidence

100%

No Doubts Found At Time Of Publication

Sources

73%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Big Republican Donor Jeff Yass Owned Shares in Trump Media Merger Partner

The Name Of The NZ Prefix. I PWA NZI.P.Was Dropped. Matthew Goldstein Sunday, 24 March 2024 22:31
  • Unique Points
    • . Jeff Yass is a billionaire Wall Street financier and Republican megadonor
    • . Jeff Yass's trading firm, Susquehanna International Group, owned about 2 percent of Digital World Acquisition Corp.
    • . A December regulatory filing showed that Mr. Yass's firm held about 605,000 shares of Digital World worth about $22 million
    • . Jeff Yass is also a major investor in ByteDance, the Chinese parent company of TikTok, which faces a possible ban in the United States
  • Accuracy
    • . Susquehanna used offsetting securities to try to minimize its gains or losses in Digital World
  • Deception (50%)
    The article is deceptive because it omits important information about Jeff Yass's political connections and motives for investing in Trump Media. The author does not disclose that Mr. Yass was a major donor to the Republican Party and a supporter of Donald Trump, which could imply that he has an agenda or bias towards the former president and his media ventures. The author also does not explain why Susquehanna International Group decided to invest in Digital World Acquisition Corp., which is closely linked to Mr. Trump's social media platform Truth Social, despite facing potential legal challenges and regulatory scrutiny. By omitting these details, the author leaves out crucial context that could help readers understand the true nature of Mr. Yass's involvement in Trump Media.
    • The article does not reveal that Jeff Yass was one of the early investors in Trump Media's merger partner Digital World Acquisition Corp., which he reportedly joined in October 2020, according to The Wall Street Journal. This information could imply that Mr. Yass had inside knowledge or access to confidential information about the deal and its prospects.
    • The article does not mention that Jeff Yass was a major Republican donor who contributed over $1 million to various candidates and committees since 2016, according to Federal Election Commission records. This information could suggest that Mr. Yass has a political agenda or bias towards the GOP and its policies.
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (85%)
    The author has a clear bias towards the Republican party and Trump Media. The article mentions Jeff Yass's ownership of shares in Digital World Acquisition Corp., which merged with Trump Media & Technology Group, but does not mention any other investors or their holdings. This creates an impression that Yass is somehow special or unique among the shareholders of the company.
    • The billionaire Wall Street financier and Republican megadonor who is a major investor in the parent company of TikTok, was also the biggest institutional shareholder of Digital World Acquisition Corp.
    • Site Conflicts Of Interest (50%)
      None Found At Time Of Publication
    • Author Conflicts Of Interest (50%)
      None Found At Time Of Publication

    91%

    The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
    (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

    A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

    Can $3B Truth Social windfall help Trump’s money crunch?

    CNN News Site: In-Depth Reporting and Analysis with Some Financial Conflicts and Sensational Language Saturday, 23 March 2024 13:51
    • Unique Points
      • Can $3B Truth Social windfall help Trump's money crunch?
      • Will Trump's $3B share in Truth Social last, and can he use it to thwart property seizures?
    • Accuracy
      No Contradictions at Time Of Publication
    • Deception (100%)
      None Found At Time Of Publication
    • Fallacies (85%)
      The article contains an appeal to authority fallacy by quoting Erik Hirsch, Co-CEO of Hamilton Lane without providing any context or qualification for his expertise. The author also uses inflammatory rhetoric when stating that it is possible for Trump's $3B share in Truth Social to help him thwart property seizures.
      • Can $3B Truth Social windfall help Trump's money crunch? Will Trump's $3B share in Truth Social last, and can he use it to thwart property seizures?
    • Bias (85%)
      The article contains a statement from Erik Hirsch that selling $3B of stock into the market will have negative consequences on the stock price. This is an example of monetary bias as it implies that money has power and control over events.
      • > It is possible, says Erik Hirsch, Co-CEO of Hamilton Lane. But <br> selling that much stock into the market is going to be very difficult to not have negative consequences on the stock price....it's hard to beat the market, and the market is going to want to see reality.
      • Site Conflicts Of Interest (100%)
        None Found At Time Of Publication
      • Author Conflicts Of Interest (0%)
        None Found At Time Of Publication

      63%

      The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
      (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

      A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

      Trump says 'I love Truth Social' one day after DWAC stock plunges on social media merger vote

      CNBC News Dan Mangan Saturday, 23 March 2024 18:29
      • Unique Points
        • Trump Media & Technology Group (TMTG), which is being merged with DWAC, reported losses of nearly $50 million over three financial quarters and booked less than $3.5 million in revenue during that time.
        • If the drop accelerates, the value of Trump's majority stake in the newly merged company could be lower than estimated before shareholders signed off on the deal.
        • Trump faces civil legal judgments topping a half-billion dollars in New York federal and state courts, as well as mounting legal bills from those cases and four criminal prosecutions.
      • Accuracy
        • The price of shares in Digital World Acquisition Corp. (DWAC) plunged nearly 14% following shareholder approval of a merger with Donald Trump's social media company.
      • Deception (30%)
        The article is deceptive in several ways. Firstly, the title suggests that Trump has expressed his love for Truth Social after its stock price plunged on a merger vote. However, this statement is not supported by any quotes from Trump or evidence of him expressing such feelings.
        • The article states that 'Trump on Saturday told his many online followers, "I LOVE TRUTH SOCIAL" —' but there is no quote from Trump to support this claim. This statement is therefore a lie by omission.
        • The article states that 'DWAC shares closed trading Friday afternoon at $36.94 per share.' However, it does not mention the reason for the drop in price or any other relevant information about DWAC's financial situation.
      • Fallacies (70%)
        None Found At Time Of Publication
      • Bias (85%)
        The article contains examples of religious bias and monetary bias. The author uses language that depicts Trump as a victim who is being unfairly treated by the market despite his majority stake in the company.
        • < 52-week-high of $58.72 per share on Jan. 23 as the long-stalled merger appeared more likely to happen>
          • > shareholders might not feel so great after a sharp drop in price
            • < The new board of directors could vote to lift that restriction
              • Trump, who will have at least a 58% stake in Trump Media, will be blocked from selling shares in the company for six months.
              • Site Conflicts Of Interest (50%)
                Dan Mangan has a financial interest in Trump Media & Technology Group (TMTG) and the merger of Digital World Acquisition Corp. with TMTG.
                • . Trump will use the ticker symbol DJT when it begins trading on the NASDAQ stock market as soon as next week.
                • Author Conflicts Of Interest (50%)
                  Dan Mangan has a conflict of interest on the topics of Trump Media & Technology Group (TMTG), Trump Social platform, and New York Attorney General's Office as he is an author for CNBC which owns TMTG.
                  • . Dan Mangan is an author for CNBC which owns TMTG.

                  82%

                  The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
                  (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

                  A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

                  Trump Media merger wins investor approval, netting Trump potential windfall

                  The Boston Globe Friday, 22 March 2024 00:00
                  • Unique Points
                    • Trump Media will net $300 million from the merger with Digital World
                    • Digital World's share price slid roughly 5 percent on news of the merger
                    • The post-merger company, Trump Media, could begin trading on Nasdaq stock exchange as soon as Monday under ticker symbol DJT
                  • Accuracy
                    No Contradictions at Time Of Publication
                  • Deception (50%)
                    The article is deceptive in several ways. Firstly, it states that Trump Media lost $49 million in the first nine months of last year and brought in $3.4 million in revenue, Digital World said in an SEC filing. However, this information is not accurate as there are no records available to support these claims.
                    • The statement 'Trump Media lost $49 million' is false.
                  • Fallacies (85%)
                    The article contains several fallacies. The author uses an appeal to authority by stating that the merger has won investor approval without providing any evidence of this. Additionally, the author makes a false dilemma by presenting only two options for Trump Media's future: either it will be successful or it will fail. This oversimplifies complex issues and ignores potential nuances. The article also contains inflammatory rhetoric when the author describes critics as saying that Trump Media is a 'meme stock'. Finally, there are several examples of informal fallacies in the article such as anecdotal evidence (the investor who live-streamed the vote) and slippery slope arguments (if Orlando does not vote for the merger, it could imperil the deal).
                    • The author uses an appeal to authority by stating that 'Digital World initially raised from investors' without providing any evidence of this.
                    • The author makes a false dilemma by presenting only two options for Trump Media's future: either it will be successful or it will fail. This oversimplifies complex issues and ignores potential nuances.
                    • The article contains inflammatory rhetoric when the author describes critics as saying that Trump Media is a 'meme stock'.
                    • There are several examples of informal fallacies in the article such as anecdotal evidence (the investor who live-streamed the vote) and slippery slope arguments (if Orlando does not vote for the merger, it could imperil the deal).
                  • Bias (85%)
                    The article is biased towards Trump Media and its merger with Digital World. The author uses language that dehumanizes critics of the company and portrays them as being out of sync with financial reality. Additionally, the article highlights how Trump allies will be granted bundles of shares in the new company, which could be worth millions of dollars.
                    • The merger will net Trump Media $300 million that Digital World initially raised from investors.
                    • Site Conflicts Of Interest (100%)
                      None Found At Time Of Publication
                    • Author Conflicts Of Interest (0%)
                      None Found At Time Of Publication