Trump Media Reports Significant Third-Quarter Loss Amid Rising Costs

According to PANews, Trump Media & Technology Group reported a third-quarter loss of $54.8 million, as rising costs impacted its financial performance. This marks an increase from the $19.3 million loss recorded in the same period last year. The company's revenue for the quarter was $972,900, down from over $1 million the previous year. On Friday, Trump Media's stock closed at $13.10, a decrease of 1.73%, but slightly recovered to $13.20 in after-hours trading.As of September 30, the company held 11,542 bitcoins, valued at $1.3 billion at the time. Trump Media announced in late July its intention to begin purchasing bitcoin and disclosed plans to further increase its holdings, while also considering the acquisition of other similar cryptocurrencies.