ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
Trump Media reported a net loss of $327.6 million in the first quarter of 2024 and brought in $770,500 in revenue, Kinsey Crowley reports. Stock prices tumbled after the announcement. |
Given the company's volatility and potential for overvaluation, experts have likened it to a meme stock, noting that Trump Media investors may be more ideologically driven than your average anti-short seller. The company's CEO lauded its "legion of retail shareholders" in a release this week. |
Expect fewer LGBTQ logos for Pride Month |
Pronoun pins. "Not a Phase" hoodies. "So gay for each other" greeting cards. |
Every year, national brands cozy up to LGBTQ+ Americans with colorful merchandise for Pride Month, Jessica Guynn reports. This June, those displays may not be so loud and proud. |
📰 More stories you shouldn't miss 📰 |
Was it all about endless shrimp? |
No. Red Lobster's Chapter 11 bankruptcy filing and the closing of multiple locations of the restaurant chain resulted from massive debt, a carousel of CEOs and a decline in guests, as well as the recent all-you-can-eat shrimp controversy, Jonathan Limehouse reports. |
Bankruptcy documents detail how Red Lobster has struggled in various ways, including a 30% drop in guests since 2019. In a 124-page document obtained by USA TODAY on Tuesday, Red Lobster CEO Jonathan Tibus explains why the seafood chain filed for bankruptcy on Sunday and why he supports the decision. |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | Trump Media, the parent company of Truth Social, trading on the stock market as DJT, reported more than $300 million in losses in Q1 of 2024. | | | |  | Worried about alienating customers after conservative boycotts slashed sales, some mainstream brands are scaling back Pride merch and promotions. | | | | Red Lobster is closing locations and filed for bankruptcy. Court documents detail woes including debt, a lack of liquid funds and a drop in diners. | | | | Realtor.com unveiled a list of top rental markets for recent college grads based on factors such as job opportunities, rent availability and affordability. | | | | After a violent incident involving a short-term rental, residents in this Long Beach neighborhood voted to ban unhosted short-term rentals. | | | | Sam Butcher, founder and creator of the teary-eyed Precious Moments figurines, died on Monday. | | | | In a statement Johansson said OpenAI CEO Sam Altman tried to hire her and, when she said no, he copied her voice. Altman denied the Sky voice is hers. | | | | One passenger was killed and 30 were injured after a flight from London fell into an air pocket before encountering turbulence en route on Tuesday. | | | | Plaintiffs in a federal lawsuit accuse the megabank of charging them ATM fees but not customers of minority-owned banks. | | | | You may encounter charges when you ask for a free refill at McDonald's, it just depends which location you go to. | | | | |  | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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