Why Trump Media Stock Fell 13.3% in March But Is Rising in April
Key Points
Trump Media lost ground as month amid bearish pressures for the market and business-specific uncertainties.
The company's last earnings report showed little revenue.
Trump Media's business and stock structure are poised for big changes.
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Trump Media (NASDAQ: DJT) stock got hit with another month of double-digit sell-offs in March. The company's share price fell 13.3% across the stretch. Over the same period, the S&P 500 fell 5.1%, and the Nasdaq Composite declined 4.8%.
There wasn't any fresh business-specific news behind Trump Media's valuation slide last month, but the company's valuation headed lower as investors reacted to the Iran war and the risk that geopolitical volatility could lead to higher inflation. Trump Media's share price may have also faced sustained pressure from the company's fourth-quarter report and spin-off announcement in the previous month.
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Trump Media's last quarterly report raised some big questions
In addition to bearish momentum for the broader market stemming from the war in Iran, Trump Media stock may have also seen valuation pressures stemming from its latest quarterly report and news of a major restructuring. The company published its and full-year results on Feb. 27 and announced operating cash flow of $14.8 million last year. The performance marked a substantial improvement from its operating cash outflow of $61 million in 2024.
On the other hand, the business actually recorded revenue of just $3.7 million for the year. Meanwhile, the company posted a net loss of roughly $712 million in the period.
Trump Media ended last year with $2.5 billion in financial assets. The company still has a substantial capital base to work with, but scaling initiatives have not been encouraging -- and now the stock is poised for a significant structural shift.
In conjunction with the financial release, the company said that it was exploring the possibility of spinning off its Truth Social business into a new publicly traded company and was conducting talks in relation to the move. Truth Social was initially the core service underpinning Trump Media, but the company's focus has shifted to fintech services, cryptocurrencies, and digital assets. The company is poised to be spun off and taken public through a merger with TAE Technologies and Texas Ventures III.
What's next for Trump Media?
Trump Media has said that shares of the new company will be distributed to shareholders who are stockholders at a date preceding the conclusion of the spinoff and subsequent merger. The stock has risen 3.2% in April amid a 3.9% gain for the S&P 500 and a 4.8% gain for the Nasdaq Composite. De-escalation in the war with Iran is at the heart of the gains.
Trump Media went public in March 2024 through a merger with Digital World Acquisition -- a special purpose acquisition company (SPAC). Roughly two years after the company's public debut, the company has managed to produce little in the way of sales. Now attention is once again turning to another business pivot, and future stock performance now likely hinges heavily on the company's new nuclear fusion venture.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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