Shares of Truth Social, the social media platform where Donald Trump holds a 60% stake, have seen a significant decline, plummeting 6% in early Friday trading. This follows a series of losses, including a 5.4% drop on Thursday, an 8.5% fall on Wednesday, and a staggering 47% fall over the month. The stock's continued decline left it on track for a seventh losing day out of the past eight. Amidst this financial turmoil, small-time investors who had put their faith in Trump's venture are now facing the harsh reality of a stock collapse. Some investors, like Jerry Dean McLain, who bought shares at $90 a share, are particularly affected. In a bid to rally support, Trump made a post on Truth Social last week, encouraging his supporters to buy a share every day and questioning whether the stock had hit its bottom. However, this plea seemed to have little effect as the stock slid nearly 10 percent after his post. Shareholders have expressed doubt and fury over the plummeting stock price, with some revealing they had invested thousands to show their support for Trump.
Trump Media shareholders have voiced doubt and fury over the company’s plunging price. Some said they had invested thousands to show Trump their faith and support. https://t.co/su2sMhy0G4
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.) https://t.co/8sG6Vk0NnK
Small-time investors in Truth Social reckon with stock collapse https://t.co/OPorcCUeiC 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.…
still 100% downside Small-time investors in Trump’s Truth Social reckon with stock collapse https://t.co/AVofRcIYUl
Small-time investors in Trump’s Truth Social reckon with stock collapse https://t.co/PL1TdjPFfD
"The Truth Social owner’s share price dropped another 5% as of mid-day Friday, leaving it on track for a seventh losing day out of the past eight." https://t.co/ND2JLd1EcM
❗️Truth Social shares plummet 6% in early Friday trading It follows a 5.4% drop Thursday, an 8.5% fall Wednesday, and a 47% fall over the month so far. Donald Trump remains the largest shareholder in the platform with a 60% holding. https://t.co/cRV6rXILr7