Small-time investors who took the leap and bought stock in Trump Media & Technology Group appear to be coming to the realization that they should hang onto their day jobs as the value of shares in the company behind Truth Social spirals downward with one disappointed MAGA fan lamenting, " When will it be the BOTTOM!!!"
According to a report from the Washington Post, that reinforced a report from the Daily Beast, there are growing concerns among Donald Trump's more rabid followers that the money-losing Truth Social media platform is going to b less like Facebook or Apple and more like Pets.com.
As the stock tumbles from a March 26 high of $79.38 before briefly dropping below $31 last Friday, investors are leaping on forums to express faith that their bet on the success of a Donald Trump venture will pay off while also expressing some doubts they may have made a horrible mistake.
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As the Washington Post's Drew Harwell is reporting, "... for some Trump investors, the stock is a badge of honor — a way to show their devotion beyond buying Trump merchandise, visiting Trump golf courses or donating to Trump’s presidential campaign," however, "there are also flickers of uncertainty and disenchantment, with some saying they faced thousands of dollars in losses or had 'risked [literally] everything.' One user who had posted 'Tired of WINNING yet?' earlier this year when the stock spiked posted that this week’s losses were 'painful to stomach.'"
Case in point, the report notes is user @manofpeace123, "who said they bought shares at $65 and that 71 percent of their portfolio was DJT stock, said on Wednesday that investing was a way of telling Trump, 'I believe in you and I stand with you through good times and bad.' But a day later, the user added: 'can’t help but feel sad. … feel like I’m trying to catch a falling knife.'"
Commenter @bill7718, who wondered where the bottom for the stock resides, complained, "Come on DJT, every time I buy more, the price drops more."
RELATED: Pump-and-dump investors cash out on 'crazy' Trump fans buying up Truth Social stock
The Post's Harwell added, "Some users said they were ' baffled' by the stock’s ups and downs, and one asked for advice on how to tell her husband she didn’t want to sell. One user posted a meme image saying, 'If you’re worried about your Money, Remember This, DJT stock is about FREE SPEECH & Without FREE SPEECH Money won’t mean much.'"
Others have blamed the collapse of the stock on the "deep state," but another supporter of Donald Trump expressed skepticism.
“'I’m tired of blaming the deep state,' he said. Later, he added, 'You would think that the biggest political movement of all time would want to support the man leading it and get much better numbers than' this. (The accounts did not respond to messages and offered no way to contact them.)" the Post is reporting.
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