The Terminally Stupid get Fleeced by bronzed twatwaffle

The rubes once again get taken by the tangerine hued hippo, and they keep doubling down.

If you’ve been shipwrecked on an island in the south pacific, and not aware of the news, you might be the only person unaware of the shitshow that is TMTG’s stock, post acquisition called DJT¹ on the stock ticker, that is currently stinking up the joint.

On the day the merger was approved, it began to rise, and the day it went on the market, it popped to slightly more than $66 a share. Since then, we have gotten information that confirms what any savvy investor already believed, that Truth Social is a terrible business, that it has less then 500K users per day, and that it hemorrhages cash like a drunken sailor at a Thai brothel. 2023 saw that they brought in a bit over $4M in revenue, but the costs were about $57M, so it was extremely unprofitable.

But that isn’t deterring the faithful. Today’s WaPo has an article about the true believers and their insane rationalization for continuing to pump $$$ into this cesspool of loss and shame.

This brain donor starts the list:

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.

Look, this bozo bought in at the initial frenzy at $90 a share (gawd) and has been continuing to build his portfolio of the fucking worst shares on the planet, blowing $25K. Look, the man is a landscaper, and I really doubt he has the financial savvy to invest like this, of course, as with all things Trump, it defies common sense and these turds are all tuned into the vibes.

I mean, its revenue is on par with a decent franchise location of a popular fast food joint:

As a business, Trump Media has largely underwhelmed: The company lost $58 million last year on $4 million in revenue, less than the average Chick-fil-A franchise, even as it paid out millions in executive salaries, bonuses and stock.

Of course, the savvy investors are trying to short this motherfucker into oblivion, but that is difficult as it is estimated that the current float is about 5-6 million shares the rest locked up for 6 months to insiders, and a large fraction of the float is going to investors trying to short this to irrelevance and the faithful retail investors². If there was a larger float, the bets against it would make the Baby Jesus cry.

Another one of these true faithful brain donors thinks it is the deep state or some democrats that are assaulting the fine business at Truth Social:

Many of Truth Social’s investors say they’re in it for the long haul. Todd Schlanger, an interior designer at a furniture store in West Palm Beach who said Trump had been one of his customers, said he’s invested about $20,000 in total and is buying new shares every week.

Schlanger said he now watches his stock performance every day hoping for positive signs. In a Truth Social post last week, he encouraged “everyone who supports Donald Trump and Truth [Social to] buy a share everyday” and asked, “Do you think we have hit bottom?” (The stock slid nearly 10 percent after that post.)

He suspects the recent drops in share price have been the result of “stock manipulation” from an “organized effort” to make the company look bad. There’s no proof of such a campaign, but Schlanger is convinced. “It’s got to be political,” he said, from all the “liberals that are trying to knock it down.”

Uh, no recognition that this is a terrible, unprofitable, and even evasive business who purposely doesn’t track metrics on performance, because that is too woke or some similar fucktardery.

Final string of Conservative tears, from the investors who post on the site…

But 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.”

“Come on DJT, every time I buy more, the price drops more,” the user @bill7718 wrote. “When will it be the BOTTOM!!” (He posted a chart Thursday showing the stock rising slightly alongside the caption, “moving!!” The price has since gone back down.)

The 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.”

Another account, @realJaneBLONDE, posted on Sunday that she was “NOT panicked NOT worried” before, two days later, posting a message to Trump and congressional Republicans urging them to make it “illegal” to bet against or short-sell stocks.

Sure, make it illegal to short stock. That is a laugher.

1. The Urban Dictionary says that DJT stands for “Designated Jizz Towel” and the acronym for a crusty bedside cum wipe is about right.

2. retail investor, noun, someone who is going to be left holding the bag when the house of cards comes crashing down.

---