donald dump Supporter's LIFE SAVINGS ERASED by his Stock

[MagaSmash]

[LetMyPeopleVote]

1. The greater fool theory in operation

I am sorry for these idiots but they were stupid to trust TFG.Meme stocks rely on the greater fool theory. I was amused to see that DWAC/Trump Media is classified as a meme stock where the value is due to personality and not due to the real value of issuer of the meme stock. This article is a good discussion of the meme nature of DWAC/TMT.
https://www.vanityfair.com/news/donald-trump-truth-social-media-merger

Trump’s financial future now hinges on some of the strangest fads in corporate finance—meme stocks, SPAC deals, and cult-of-personality investing. If Trump can find a way to act fast, it might just be the bailout he desperately needs.

Truth Social is a bad imitation of Twitter, where Trump was an unavoidable presence long before he ran for president. It’s chock full of stale red-pilled memes, MAGA conspiracy theories, and of course, Trump. That’s the main draw. Truth Social is the only place the former president now regularly posts his unfettered thoughts......

DWAC is best thought of as a meme stock. You may remember the meme stock fad from when retail investors on Reddit successfully coordinated a short squeeze with GameStop stock, before glomming onto a series of other millennial nostalgia brands like AMC Entertainment, BlackBerry, and Bed Bath & Beyond. Meme stocks are often publicly traded companies that attract an inordinate percentage of individual investors and their stock performance fluctuates in a way that’s significantly divorced from the reality of their underlying business. Combine those two trends and you’ll start to see why Trump’s media company could be valued at roughly $9 billion if it merges with DWAC.

Jay Ritter, a finance professor at the University of Florida, says meme stocks often depend on the “greater fool theory of investing,” meaning rational investors might buy in expecting the stock price to rise and betting that they can sell their shares to a greater fool willing to buy them at a higher price. In this case, however, Ritter speculates there is an inordinate number of individual retail investors compared to institutional investors, such as hedge funds, that normally own SPAC shares prior to a merger. “Here you’ve got ideology involved [too]—as far as I can tell, the vast majority of DWAC investors are Trump political investors, and they’re to some degree putting their money where their mouth is… My suspicion is most of them have bought the stock as a show of political support.” In this way, Trump is conducting yet another public fundraising from his supporters—this time through the public markets.

Idiots who purchase meme stocks are betting that they can get out before the other idiots figure out that the stock is worthless

[tom_kelly]

2. It would take everything I have to feel even

a little bad for these people. So, I won't bother trying

[ShazamIam]

3. OP, thanks for the post from this very informed and articulate Gen Z youtube political voice. nt

Edit to remove typo at beginning of post.

[TeamProg]

4. "The grocery store di'nt take my Trump Bucks, ma Trump Bucks is all I had, ma cat litter box cooponz are better". nt

[SWBTATTReg]

5. I really can't feel sorry for the guy (well, a tiny bit) but we're always been hounded nonstop to not invest in just one

stock, to not overly concentrate in one stock issue, and he did. Especially when you are older and you can't replace the money so easily (like him, I'm older too).

He broke the cardinal rule. Where was his broker at the time? If he had one or if he didn't, he self-invested using eTRADE or some other similar platform.

Overall, he F**Ked up his life totally. He does have the remaining amount of recovered stock that he sold at $26 or there-abouts, but still, he took a big wallop.

I do have to give him credit for stepping up, and admitting his mistake. That had to take a lot out of him. I hope that his family comes back around. All of us sometimes in our lives do make mistakes too. You just have to accept it (the loss), try to recover from it as much as you can, and go on.

[AZ8theist]

6. I read the headline and laughed my ass off!!

You can't fix stupid....