With the value of stock in Trump Media and Technology Group (TMTG) continuing its unceasing slide downward since the technology company went public, supporters of Donald Trump who profess to have invested in the company are increasingly expressing dismay about the collapse on the former president's Truth Social platform.
According to a report from the Daily Beast's Noah Kirsch, faith in the troubled company that was reported to have lost millions last year right after the public offering, is in short supply at the same time the former president was telling supporters at Mar-a-Lago that all is well, stating: "We have over $200 million dollars in cash, which is very liquid.”
Those not in attendance at the Mar-a-Lago gathering appear to be less than assured.
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On Truth Social, the main product of TMTG, commenters are commiserating with each other as they watch the stock spiral downward, losing over half its value in just several weeks,
According to the Beast's Kirsch, one commenter lamented on Thursday, "Man I really thought we were gonna see a jump today. Especially after that party last night. There is always tomorrow,” while another added, "Doesn’t it seem strange that the price goes down steadily every day? Haven’t seen a green day for a while.”
Hearing about the Mar-a-Lago gathering where the former president attempted to assure insiders, another commenter wrote, "I think there is something coming very soon, and they are all excited about it. Something they worked very hard to make happen. A milestone for the team."
According to Kirsch, "Some Truth Social users blame the mainstream press for 'spreading lies' about the company, as one person framed it. And despite nerves about the stock’s downward slide, many of them have pledged to keep buying shares."
One Truth Social user claimed, "Just sat down with my broker yesterday and am having him move $10,000 of my Roth IRA, that we had sitting idle for kind of like an extra ‘emergency fund’, into $DJT stocks! This is the only time I would hope for the price to drop so I can get as many shares as possible!”
Another was not so effusive and admitted, "Not going to be able to sleep tonight. If you stick it out I believe you will be rewarded greatly. I believe God directed me here.”
You can read more here.
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