Small time investors on Trump's Truth Social reckon with stock collapse.

[CrazyTrader55]

Most of these folks are trusting and hard working, and don't even see it coming. Blind faith never ends well.



Jerry Dean McLain first bet on former president Donald Trump’s Truth Social two years ago, buying into the Trump company’s planned merger partner, Digital World Acquisition, at $90 a share. Over time, as the price changed, he kept buying, amassing hundreds of shares for $25,000 — pretty much his “whole nest egg,” he said.

That nest egg has lost about half its value in the past two weeks as Trump Media & Technology Group’s share price dropped from $66 after its public debut last month to $32 on Friday. But McLain, 71, who owns a tree-removal service outside Oklahoma City, said he’s not worried. If anything, he wants to buy more.

“I know good and well it’s in Trump’s hands, and he’s got plans,” he said. “I have no doubt it’s going to explode sometime.”

For shareholders like McLain, investing in Truth Social is less a business calculation than a statement of faith in the former president and the business traded under his initials, DJT.

Even the company’s plunging stock price — and the chance their investments could get mostly wiped out — doesn’t seem to have shaken that faith. The company has lost $3.5 billion in value since its public debut last month.

As a business, Trump Media has largely underwhelmed: The company lost $58 million last year on $4 million in revenue, less than the average Chick-fil-A franchise, even as it paid out millions in executive salaries, bonuses and stock.

And in two years, Truth Social has attracted a tiny fraction of the traffic other platforms see, according to estimates from the analytics firm Similarweb — one of the only ways to measure its performance, given that the company says it “does not currently, and may never, collect, monitor or report certain key operating metrics used by companies in similar industries.”

But for some Trump investors, the stock is a badge of honor — a way to show their devotion beyond buying Trump merchandise, visiting Trump golf courses or donating to Trump’s presidential campaign.

https://www.washingtonpost.com/technology/2024/04/14/truth-social-investors-faith-trump/

I like Trump as the anti swamp politician, but this DJT stock is just garbage and the small investor is going to get burned.

 

[konradv]

/---/ As I do with any stock when I see it turn. DUHHHHH

Too bad Donny can’t. It’ll be a penny stock by the time he’s allowed to cash out.

 

[john doe 101]

I salute them.


Now is the best time to buy Trump stock.

Down another 15% today lol.

 

[john doe 101]

Ok...They filed to issue additional stock. As of writing, stock has fallen 16% this morning.

The immediate question: why would you issue more stock?

To get more money.

 

[odanny]

The gist of the article is people thought they would get rich and also show support for Trump and they didn’t realize that has never gone well for anyone over the past 50 years who took the same approach.

Never, ever invest based on emotion.

 

[Man With A Plan]

Most of these folks are trusting and hard working, and don't even see it coming. Blind faith never ends well.



Jerry Dean McLain first bet on former president Donald Trump’s Truth Social two years ago, buying into the Trump company’s planned merger partner, Digital World Acquisition, at $90 a share. Over time, as the price changed, he kept buying, amassing hundreds of shares for $25,000 — pretty much his “whole nest egg,” he said.

That nest egg has lost about half its value in the past two weeks as Trump Media & Technology Group’s share price dropped from $66 after its public debut last month to $32 on Friday. But McLain, 71, who owns a tree-removal service outside Oklahoma City, said he’s not worried. If anything, he wants to buy more.

“I know good and well it’s in Trump’s hands, and he’s got plans,” he said. “I have no doubt it’s going to explode sometime.”

For shareholders like McLain, investing in Truth Social is less a business calculation than a statement of faith in the former president and the business traded under his initials, DJT.

Even the company’s plunging stock price — and the chance their investments could get mostly wiped out — doesn’t seem to have shaken that faith. The company has lost $3.5 billion in value since its public debut last month.

As a business, Trump Media has largely underwhelmed: The company lost $58 million last year on $4 million in revenue, less than the average Chick-fil-A franchise, even as it paid out millions in executive salaries, bonuses and stock.

And in two years, Truth Social has attracted a tiny fraction of the traffic other platforms see, according to estimates from the analytics firm Similarweb — one of the only ways to measure its performance, given that the company says it “does not currently, and may never, collect, monitor or report certain key operating metrics used by companies in similar industries.”

But for some Trump investors, the stock is a badge of honor — a way to show their devotion beyond buying Trump merchandise, visiting Trump golf courses or donating to Trump’s presidential campaign.

https://www.washingtonpost.com/technology/2024/04/14/truth-social-investors-faith-trump/

Amazon lost millions for years...gee, I wonder what people who dumped their shares in THAT because it wasn't instantly profitable are thinking now?

 

[CrazyTrader55]

The gist of the article is people thought they would get rich and also show support for Trump and they didn’t realize that has never gone well for anyone over the past 50 years who took the same approach.

Never, ever invest based on emotion.

Wise words. When I was much younger I was a big Ross Perot fan, and actually still believe he would have made a great president. I bought his Perot Systems stock when it came public, and up and up and up it climbed, to around $90 a share if I remember right. Then, it tanked, leaving me to sell it at a big loss. It never did get back to that level again.

 

[odanny]

Amazon lost millions for years...gee, I wonder what people who dumped their shares in THAT because it wasn't instantly profitable are thinking now?

October of 2001 I bought $2000 worth of Amazon for $7.85 a share, sold it all for $21 a share.

All investors have regrets.

 

[odanny]

Wise words. When I was much younger I was a big Ross Perot fan, and actually still believe he would have made a great president. I bought his Perot Systems stock when it came public, and up and up and up it climbed, to around $90 a share if I remember right. Then, it tanked, leaving me to sell it at a big loss. It never did get back to that level again.

I’ve invested $20,000 each in two startups that have both tanked and I have pretty much lost both investments. Same amount with two other startups and both have hit over 4X value, that’s the investing rule, smaller losses, bigger gains.

 

[Man With A Plan]

October of 2001 I bought $2000 worth of Amazon for $7.85 a share, sold it all for $21 a share.

All investors have regrets.

My point was that some of the most successful businesses were wildly UNSUCCESSFUL at first! Whether Truth Social is successful or not is yet to be seen. Is declaring it a bad investment at this point is based on your dislike of Trump or your dislike of the business model?

 

[odanny]

My point was that some of the most successful businesses were wildly UNSUCCESSFUL at first! Whether Truth Social is successful or not is yet to be seen. Is declaring it a bad investment at this point is based on your dislike of Trump or your dislike of the business model?

I know your point, I found it irrelevant though.

 

[noonereal]

Most of these folks are trusting and hard working, and don't even see it coming. Blind faith never ends well.



Jerry Dean McLain first bet on former president Donald Trump’s Truth Social two years ago, buying into the Trump company’s planned merger partner, Digital World Acquisition, at $90 a share. Over time, as the price changed, he kept buying, amassing hundreds of shares for $25,000 — pretty much his “whole nest egg,” he said.

That nest egg has lost about half its value in the past two weeks as Trump Media & Technology Group’s share price dropped from $66 after its public debut last month to $32 on Friday. But McLain, 71, who owns a tree-removal service outside Oklahoma City, said he’s not worried. If anything, he wants to buy more.

“I know good and well it’s in Trump’s hands, and he’s got plans,” he said. “I have no doubt it’s going to explode sometime.”

For shareholders like McLain, investing in Truth Social is less a business calculation than a statement of faith in the former president and the business traded under his initials, DJT.

Even the company’s plunging stock price — and the chance their investments could get mostly wiped out — doesn’t seem to have shaken that faith. The company has lost $3.5 billion in value since its public debut last month.

As a business, Trump Media has largely underwhelmed: The company lost $58 million last year on $4 million in revenue, less than the average Chick-fil-A franchise, even as it paid out millions in executive salaries, bonuses and stock.

And in two years, Truth Social has attracted a tiny fraction of the traffic other platforms see, according to estimates from the analytics firm Similarweb — one of the only ways to measure its performance, given that the company says it “does not currently, and may never, collect, monitor or report certain key operating metrics used by companies in similar industries.”

But for some Trump investors, the stock is a badge of honor — a way to show their devotion beyond buying Trump merchandise, visiting Trump golf courses or donating to Trump’s presidential campaign.

https://www.washingtonpost.com/technology/2024/04/14/truth-social-investors-faith-trump/

Sad that people are so fuckin stupid.
This is why everyone should attend 4 years of college as a minimum.

 

[CrazyTrader55]

Sad that people are so fuckin stupid.
This is why everyone should attend 4 years of college as a minimum.

College is no guarantee of intelligence. Look at your own footer. Good Ole' Joe, getting it done. NOPE. sorry. He's incompetent.

 

[debbiedowner]

https://www.cnbc.com/quotes/DJT?qsearchterm=DJT

Down under 30

 

[Zincwarrior]

Amazon lost millions for years...gee, I wonder what people who dumped their shares in THAT because it wasn't instantly profitable are thinking now?

You should invest.

 

[Harpy Eagle]

 

[Man With A Plan]

I know your point, I found it irrelevant though.

LOL...well of course you did!

 

[Man With A Plan]

You should invest.

I have a small foot print in stocks. Most of my investments over the years have been in real estate. I'll pass on speculative stock buys. Not my thing.

 

[odanny]

I have a small foot print in stocks. Most of my investments over the years have been in real estate. I'll pass on speculative stock buys. Not my thing.

Probably the wrong thread for you to be giving advice then.

 

[Man With A Plan]

Sad that people are so fuckin stupid.
This is why everyone should attend 4 years of college as a minimum.

Everyone? You do realize that's idiotic...right? I have two brother in laws...one is a plumber...the other is an electrician. Both of them have made more money than I have over our lifetimes and I have an MBA. Neither of them are stupid. Both started and ran successful companies without a four year degree.