Shares in Trump Media & Technology Group, the parent company of former President Trump's Truth Social platform, experienced another significant drop at the start of the trading week on Monday, declining by a further 10 percent. As of Monday morning, Trump Media's shares were hovering around $36, down from about $40 at Friday's close. This marks a steep fall for the Truth Social parent, whose shares initially soared above $79 when it went public almost two weeks ago.

The decline in Trump Media's shares began last Monday when the company reported a staggering loss of $58 million in 2023. Regulatory filings reveal that although Trump Media generated approximately $4.1 million in revenue last year, it incurred operating expenses amounting to roughly $16 million and interest expenses of $39.4 million.

In addition, Trump Media stated that it expects to continue experiencing operating losses and negative cash flows in the foreseeable future. The company also stated that it is premature to predict when it will achieve profitability and positive cash flows from its operations.

Despite these challenges, Trump Media CEO, Devin Nunes, expressed confidence over the company's prospects during an interview on "Sunday Morning Futures." Nunes highlighted several factors, including the absence of debt, a well-functioning platform that reaches millions of users, and $200 million in the company's bank account.

Financial information regarding Trump Media's first-quarter performance has yet to be released. However, following the company's merger with the blank check company Digital World Acquisition Corp., Trump Media obtained a substantial influx of $300 million, enabling it to go public. Former President Trump, who owns approximately 58 percent of Trump Media, recently praised the platform as "very solid."

The current decline in shares and the company's substantial losses have raised concerns among investors about the future viability of Truth Social. As Trump Media's shares continue to plummet, investors will closely monitor the company's efforts to address its financial challenges and turn a profit.

It remains to be seen whether Trump Media can reverse its fortunes and regain the confidence of investors in the highly competitive social media landscape. With upcoming financial reports yet to be disclosed, market observers eagerly await any signs of progress from the Truth Social parent company.