The chief operating officer (COO) of Trump Media & Technology Group (DJT) has resigned and left the social media company.
A regulatory filing with the U.S. Securities and Exchange Commission (SEC) revealed that
Andrew Northwall, who served as COO of Trump Media, quit in late September of this year.
It’s not clear if he has been replaced in the senior executive position.
Former U.S. President Donald Trump owns more than 50% of Trump Media, which runs the Truth Social platform that is a clone of X/Twitter.
The departure of the company’s COO comes as Trump Media & Technology Group struggles with financial problems and a wave of stock sales.
The stock of Trump Media recently hit an all-time low after lock-up restrictions imposed following its market debut six months ago expired.
The company went public in March of this year via a special purpose acquisition company (SPAC).
In recent months, Trump Media reported a net loss of $327.6 million U.S. on less than $1 million U.S. of revenue, raising concerns that it may file for bankruptcy.
Trump Media’s stock is currently trading at $16.17 U.S. per share, which is 80% below its 52-week high of $79.38 U.S. a share.
