WaPo: Dude puts his "whole nest egg" into Truth Social/Trump Media stock. Price halves. He's not worried tho

[Bucky]

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.

Mountains.

[durablend]

1. Have you mortgaged the family yet, Mr. McLain?

If not, why not? You need to buy MORE.

[SWBTATTReg]

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

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]

10. But Truth Social earned THREE MILLION DOLLARS!!! in ad revenue last year. That's winning goodly!!

[LudwigPastorius]

3. "who owns a tree-removal service" "I know good and well it's in Trump's hands"

This guy really seems to have a stump fetish.

[Bucky]

9. LOL!!!

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

[The Unmitigated Gall]

4. Fleeced again.

[Aristus]

5. Play stupid games, win stupid prizes.

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

[Mountainguy]

6. Gives all his money to billionaire conman

Blames democrats when he's poor.

[NameAlreadyTaken]

7. The perfect mark for the con man.

[Bucky]

8. Jerry McLain is EXACTLY why we need a social welfare state. I hope we maintain a big gov't social safety net.

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]

11. Bought it at $90 a share

$26.80 as of 2:00pm today

[LiberalFighter]

12. He is going to be in big trouble if he only has $25,000.

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

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

[dv421]

13. He is in bigger trouble now

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

[MissB]

14. Right?

I mean, he clearly doesn’t make god financial decisions but whew $25k? Eeks.

[Bucky]

15. Or he got a late start. Americans are notoriously bad at investing nest egg

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"