Trump Media & Technology Group Balance Of Cash And Cash Equivalents Was $273.7M As Of March 31, 2024; Q1 Operating Loss Of $12.1M
Portfolio Pulse from Benzinga Newsdesk
Trump Media & Technology Group (TMTG) reported a balance of cash and cash equivalents of $273.7 million as of March 31, 2024, and a Q1 operating loss of $12.1 million. The company has completed its merger with Digital World Acquisition Corp. (DWAC) and is now focusing on expanding its Truth Social platform, including potential mergers and acquisitions and developing a live TV streaming service.
May 20, 2024 | 8:21 pm
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Digital World Acquisition Corp. (DWAC) has completed its merger with Trump Media & Technology Group (TMTG). TMTG reported a Q1 operating loss of $12.1 million but is well-capitalized with $273.7 million in cash and cash equivalents. The company plans to expand its Truth Social platform and develop a live TV streaming service.
The completion of the merger with TMTG and the company's strong cash position are positive indicators for DWAC. The planned expansion of Truth Social and development of live TV streaming could drive future growth.
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