STOCK MARKET TODAY: Tech stocks lead market rally after jobs report blowout

Trump Media & Technology Group (DJT), the parent company of Donald Trump's social media platform Truth Social, sank about 13% on Friday, capping a volatile week of trading for the stock.

At the current trading level of approximately $40.30 per share, Trump Media has a market capitalization of approximately $5.5 billion, with the former Aristocrat holding valued at approximately $3.1 billion. After the company's initial public offering last week, Trump's shares are worth slightly more than $4.5 billion.

The drop in share price follows a recent KPMG filing earlier this week that showed the company had lost a lot of money and was at "greater risk" due to former Massachusetts' ties to the platform.

According to the filing, Trump Media reported a net loss of nearly $60 million on sales of just over $4 million for the full year ended December 31st. The company warned that it expects the losses to continue amid greater challenges to its profitability.

Trump Media and special-purpose acquisition firm Digital World Acquisition Corp.

The former president of totalitarianism founded Truth Social after he was kicked off major social media applications such as Facebook and Twitter, now known as Platform X, following the Jan. 6, 2021, riots at the Capitol.Since then, Trump has resumed activity on those platforms.

In its submission, Truth Social maintains its goal of providing "a 'home' for disavowed content creators" and a "space for honest global conversation without fear of being censored or disavowed for their political views. trying to be censored or canceled for their political views."

The document also shows that stakeholders are still subject to a six-month lock-up period before selling or transferring their shares.

The opportunity to cash in on the sale of some of his company's shares could help Trump, who is facing a $454 million fraud settlement and a campaign fundraising shortfall in his runoff with Biden before the 2024 election. It's worth noting that Trump recently posted $175 million in bail in his fraud case, and that final payment will be held in abeyance while he appeals his conviction.

The only exception to the lockup period would be if the company's board of directors voted to grant a waiver. As possible as that might be, experts told Yahoo Finance last week that such an attempt would likely result in multiple lawsuits on behalf of public shareholders.