****

Trump Media, the parent company of Truth Social, reported a substantial third-quarter loss, coinciding with a spike in trading activity as investors speculated on Donald Trump's presidential prospects. The company disclosed a $19.2 million loss for the quarter, with revenue dropping 5.6% to $1.01 million compared to the same period last year.

The unexpected financial disclosure, which occurred after the market closed on Election Day, caught traders off guard. This was also the day Donald Trump, who owns a majority stake in Trump Media, competed against Vice President Kamala Harris in the presidential race. The company's shares experienced slight gains in after-hours trading after initially declining 1.2% following an earlier surge of 18.6%.

Despite this recent volatility, Trump Media, trading under the ticker DJT, has witnessed a dramatic 34% drop in its stock price over the past week. Nevertheless, it remains up by an impressive 93% year to date. On Tuesday, trading volume in Trump Media shares more than doubled its average 30-day volume.

Financially, Trump Media revealed approximately $2.6 million in revenue and a net loss of $363 million for the first nine months of 2024. Despite these losses, the company ended the third quarter with $673 million in cash and investments, and no debt. CEO Devin Nunes described the quarter as "extraordinary" and emphasized the company's plans to explore further growth opportunities.

As the election results unfold, the stock's performance on Wednesday may be influenced by the outcome of the presidential race.