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+--- Thread: Small-time investors in Trump’s Truth Social reckon with stock collapse (/showthread.php?tid=286371)
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Small-time investors in Trump’s Truth Social reckon with stock collapse - Speedy - 04-14-2024
The cult is strong with these MAGAts.
https://wapo.st/4ayuwJl
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.”
>>>>>
Trump Media spokeswoman Shannon Devine said in a statement that “Truth Social has created a free-speech beachhead against Big Tech for a fraction of the start-up and operating costs that the legacy tech corporations incurred, while having no debt, more than $200 million in the bank, and the support of hundreds of thousands of retail investors who fervently believe in our mission.”
Trump Media has boasted that it has benefited from a flood of “retail investors” — small-time and amateur shareholders betting their personal cash. Its merger partner, Digital World Acquisition, said its shares were bought by nearly 400,000 retail investors, and Trump Media’s chief executive, Devin Nunes, told Fox News anchor Maria Bartiromo on Sunday that the company had added over 200,000 new ones in the past couple of weeks.
“There’s not another company out there that has retail investors like this,” said Nunes, who this year will receive a $1 million salary, a $600,000 retention bonus and a stock package currently worth $3.7 million.
>>>>>
Many of Truth Social’s investors say they’re in it for the long haul. Todd Schlanger, an interior designer at a furniture store in West Palm Beach who said Trump had been one of his customers, said he’s invested about $20,000 in total and is buying new shares every week.
Schlanger said he now watches his stock performance every day hoping for positive signs. In a Truth Social post last week, he encouraged “everyone who supports Donald Trump and Truth [Social to] buy a share everyday” and asked, “Do you think we have hit bottom?” (The stock slid nearly 10 percent after that post.)
He suspects the recent drops in share price have been the result of “stock manipulation” from an “organized effort” to make the company look bad. There’s no proof of such a campaign, but Schlanger is convinced. “It’s got to be political,” he said, from all the “liberals that are trying to knock it down.”
Re: Small-time investors in Trump’s Truth Social reckon with stock collapse - Ted King - 04-14-2024
A part of me feels bad for these people.
Re: Small-time investors in Trump’s Truth Social reckon with stock collapse - pdq - 04-14-2024
Trump also stands to be given a bonus of 36 million shares - about as many as as all shares currently available to be traded - if the average price of DJT exceeds ridiculously low hurdles in any 20-day period after the IPO.
How ridiculously low? How about $12.50, $15 and $17.50 a share. These prices represent a return of -65%, -70%, and -75% return from the opening price of the IPO.
This is, and always has been, a heads-I-win/tails-you-lose scam on his supporters.
Re: Small-time investors in Trump’s Truth Social reckon with stock collapse - Fritz - 04-14-2024
yea, but what about the emails!!!!
Re: Small-time investors in Trump’s Truth Social reckon with stock collapse - Lux Interior - 04-14-2024
“I have no doubt it’s going to explode sometime.”
Indeed. Just not in a good way for the
Re: Small-time investors in Trump’s Truth Social reckon with stock collapse - hal - 04-14-2024
"Many of Truth Social’s investors say they’re in it for the long haul."
even if it was viable, Trump is gonna die relatively soon - what then?
Re: Small-time investors in Trump’s Truth Social reckon with stock collapse - GGD - 04-14-2024
hal wrote:
"Many of Truth Social’s investors say they’re in it for the long haul."
even if it was viable, Trump is gonna die relatively soon - what then?
These are some of the same people who believe that JFK Jr. is still alive, and would be Trump's VP.
Re: Small-time investors in Trump’s Truth Social reckon with stock collapse - JoeH - 04-14-2024
Ted King wrote:
A part of me feels bad for these people.
That is more than I feel for them. How does that saying go? Fool me once...
Re: Small-time investors in Trump’s Truth Social reckon with stock collapse - special - 04-14-2024
JoeH wrote:
[quote=Ted King]
A part of me feels bad for these people.
That is more than I feel for them. How does that saying go? Fool me once...
Fool me again, I have no shame. I am a republican.
Re: Small-time investors in Trump’s Truth Social reckon with stock collapse - Ted King - 04-14-2024
hal wrote:
"Many of Truth Social’s investors say they’re in it for the long haul."
even if it was viable, Trump is gonna die relatively soon - what then?
What the are thinking/hoping: Trump will get elected president because... God or something... and then his stock will skyrocket and they get to cash in.
If Trump isn't elected and when djt stock tanks they will blame the loss of their hard earned savings on Trump being cheated out the presidency AGAIN! They won't blame Trump.