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

odanny

Diamond Member
May 7, 2017
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Midwest - Trumplandia
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.

 
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.

Hmmm. Shows use of marginal dollars and or faith in the investment. He will either be proven right or lose his ass, but it was purchase with marginal dollars, having the money to spare.
 
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.

God, these people are so stupid.
 
Small time investors shouldn't be involved in highly speculative issues like DJT. There are a lot of stocks like this.

BTW, if Trump gets in, I'd say that DJT would be in an excellent position to get exclusive stories from the WH, and could be very profitable.
 
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.

Wow, these people are really not smart.
 
“Come on DJT, every time I buy more, the price drops more,” the user @bill7718 wrote. “When will it be the BOTTOM!!” (He posted a chart Thursday showing the stock rising slightly alongside the caption, “moving!!” The price has since gone back down.)

Some users said they were “baffled” by the stock’s ups and downs, and one asked for advice on how to tell her husband she didn’t want to sell. One user posted a meme image saying, “If you’re worried about your Money, Remember This, DJT stock is about FREE SPEECH & Without FREE SPEECH Money won’t mean much.”

But other users saw such questions as displays of unacceptable doubt. When the user @seneca1950 asked whether anyone was concerned that the company’s upcoming plans to issue tens of millions more shares would sink the stock price, two accounts criticized the account for spreading “FUD” — fear, uncertainty and doubt.

“Are you a Fudster,” wrote a user named “Jesus Revolution 2024.” Wrote another, called Rabristol: “You must be short with no way out!”
 
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.

/—-/ I made a bundle on DWAC, the warrants and DJT.
 
Well, if a nest egg is money one can spare.
I saw that, and wondered who picked the word "nest egg". I have expendable (marginal income funds) and less expendable nest egg funds. If I can gamble with it, it does not come out of what people would call the nest egg.
 
I saw that, and wondered who picked the word "nest egg". I have expendable (marginal income funds) and less expendable nest egg funds. If I can gamble with it, it does not come out of what people would call the nest egg.
My reading is that it was his nest egg.
 
My reading is that it was his nest egg.
Could be. His concern, I suppose. To me it illustrates "A fool and his money are soon parted", but who knows for sure, how he will cash out.
 
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Reactions: cnm
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?
 
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