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(54,262 posts)
Mon Apr 15, 2024, 11:50 AM Apr 15

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

Faith, folks. It moves mountains.

Small-time investors in Trump’s Truth Social reckon with stock collapse

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.

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(22,556 posts)
2. I could say that I'm sorry that he's lost 1/2 of his money and I daresay that any shining knights riding to the rescue
Mon Apr 15, 2024, 11:57 AM
Apr 15

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.


(9,500 posts)
3. "who owns a tree-removal service" "I know good and well it's in Trump's hands"
Mon Apr 15, 2024, 11:57 AM
Apr 15

This guy really seems to have a stump fetish.


(54,262 posts)
9. LOL!!!
Mon Apr 15, 2024, 02:07 PM
Apr 15

Of course his words are exactly how good Christians are supposed to feel about God. Worship stupid idols, win stupid graces.


(66,843 posts)
5. Play stupid games, win stupid prizes.
Mon Apr 15, 2024, 12:32 PM
Apr 15

How stupid do you have to be to rely so strongly on a guy who went bankrupt six times?


(54,262 posts)
8. Jerry McLain is EXACTLY why we need a social welfare state. I hope we maintain a big gov't social safety net.
Mon Apr 15, 2024, 02:05 PM
Apr 15

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.


(52,149 posts)
12. He is going to be in big trouble if he only has $25,000.
Mon Apr 15, 2024, 02:09 PM
Apr 15

It appears he doesn't know how to manage his finances.

If I only had that much I would still be working.


(171 posts)
13. He is in bigger trouble now
Mon Apr 15, 2024, 02:31 PM
Apr 15

probably down to $12.5K and after the share dilution it going to get worse when all the execs dump and run.


(54,262 posts)
15. Or he got a late start. Americans are notoriously bad at investing nest egg
Mon Apr 15, 2024, 07:51 PM
Apr 15

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"

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