I don’t know if they’re free money (the stock is up >20% today!), but it’s certainly a comically garbage company. Related, I can’t believe no one posted this amazing article:
Truth Social investing is about faith in Trump, not business fundametals - The Washington Post
Lots of good stuff. Here’s the opener:
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 more than 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 $22 on Tuesday. 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.”
and then
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 has slid about 35 percent since 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.”
There’s even an epic picture of the first guy:
But the absolute very, very best part is an easter egg for old school 2p2ers:
In moments of apparent despair, some users work to lift one another up by arguing that they are enduring the same kinds of “deep state” attacks that had long shadowed Trump himself. When user @BingBlangBlaow said they were embarrassed to be so “deep in the red” and questioned why “everyone [was] acting like everything is fine,” Chad Nedohin, a Canadian investor and prominent cheerleader of the stock on Truth Social and the video site Rumble, responded, “No [one’s] fine with it, but we are DJT now. The deep state is making their run at Trump … and us.”
user @BingBlangBlaow
And then, sorry, one more picture of the first guy:
I honestly didn’t believe there were people who actually, legitimately believed this stock had value.
