Trump Media shares plummet 21% days after debut

FILE PHOTO: A man looks at a screen that displays trading information about shares of Truth Social and Trump Media & Technology Group, outside the Nasdaq Market site in New York City, U.S., March 26, 2024. REUTERS/Brendan McDermid/file Photo

(Reuters) -Shares of Donald Trump's social media company plunged 21% on Monday, wiping out the gains from its debut last week, after disclosing millions in losses and saying it would struggle to meet its financial liabilities going forward.

Trump Media & Technology Group lost more than $58 million in 2023, it said in a filing, sending shares reeling less than a week after the Truth Social parent went public through a high-profile blank-check merger.