Donald Trump's social media company, Truth Social, reported a significant financial loss of $58 million for the year 2023, which led to a sharp decline in its stock value. Following the disclosure of these financial results, which also included generating very little revenue, the stock price of Trump Media & Technology Group, the parent company of Truth Social, plummeted more than 21%. This financial setback comes less than a week after the company's highly publicized stock market debut. Despite the loss and the subsequent stock price drop, former President Trump described Truth Social as 'very solid'. The company's valuation still stands at $6 billion, even after all the stock gains since its initial public offering (IPO) were erased due to the news of the loss.