Trump Media, the social media company whose majority shareholder is former President Donald Trump, on Friday reported a net loss of more than $16 million for the most recent financial quarter, as its already meager revenue fell 30% to just $836,900. Trump Media owns the Truth Social app, which is often used by the former president. The stock price of Trump Media, which trades under the DJT ticker, has fallen sharply from a high of more than $71 per share shortly after began publicly trading in late March following a merger with a so-called special purpose acquisition corporation. Trump Media stock closed at $26.21 per share Friday afternoon, a decrease of .49%. The company has a market capitalization of nearly $5 billion, an extraordinarily high valuation given its very modest sales. In a 10-Q filing Friday afte