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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWaPo: Dude puts his "whole nest egg" into Truth Social/Trump Media stock. Price halves. He's not worried tho
The man has faith. Faith is powerful. To be fair, he's 71 and his nest egg is only $25,000.
I know good and well its in Trumps hands, and hes got plans, he said. I have no doubt its going to explode sometime.
Faith, folks. It moves mountains.
Small-time investors in Trumps Truth Social reckon with stock collapse
Jerry Dean McLain first bet on former president Donald Trumps Truth Social two years ago, buying into the Trump companys 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 Groups 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 hes not worried. If anything, he wants to buy more.
Mountains.
durablend
(7,465 posts)If not, why not? You need to buy MORE.
SWBTATTReg
(22,171 posts)are not in sight, nor do I expect any. Anybody else would be a fool, the multiples simply don't support a higher stock price.
Bucky
(54,079 posts)LudwigPastorius
(9,178 posts)This guy really seems to have a stump fetish.
Bucky
(54,079 posts)Of course his words are exactly how good Christians are supposed to feel about God. Worship stupid idols, win stupid graces.
The Unmitigated Gall
(3,835 posts)Aristus
(66,467 posts)How stupid do you have to be to rely so strongly on a guy who went bankrupt six times?
Mountainguy
(537 posts)Blames democrats when he's poor.
NameAlreadyTaken
(982 posts)Bucky
(54,079 posts)Competitive markets produce winners and losers. Losing in the stock market is not a good reason to starve.
I just hope Republicans don't succeed in killing food stamp programs. They'll be hurting Trump's marks along with all the hard-working poor that the GOP hates.
edbermac
(15,947 posts)$26.80 as of 2:00pm today
LiberalFighter
(51,104 posts)It appears he doesn't know how to manage his finances.
If I only had that much I would still be working.
dv421
(170 posts)probably down to $12.5K and after the share dilution it going to get worse when all the execs dump and run.
MissB
(15,812 posts)I mean, he clearly doesnt make god financial decisions but whew $25k? Eeks.
Bucky
(54,079 posts)I try not to judge people too harshly for being poor. Tree removal isn't necessarily a securely middle class profession. After all, the economically precarious are often Trump's targeted demographic, a.ka. "marks"