Retired Trump supporters have gone all-in on investing in Trump Media, even though the stock has proven to be weak.
One user, who goes by @DTLjohnny, said on Trump Media-sponsored Social Reality that he sunk 98 percent of his retirement savings into the store. As of September, he estimated that he had lost 60% of his income. Still, he seemed confident in the company’s ability to mend its sails.
“But I knew that the day would come when the Deep State criminals would be so desperate that they would go through with their fake stocks. Everyone can see what they are doing. And I believe that this is part of the full disclosure plan. , “the user wrote in September” and there is no way for Trump to let them affect his company [Trump Media CEO Devin Nunes] they have a plan. But the plan they have to keep secret…
He probably recovered a large part of what he lost. Shares rose more than 300% from the end of September to the end of October at the top but have since retreated about 40%.
One investor expressed concern about the stock. John Viaud, a South Carolina retiree, said his “entire pension is in jeopardy” after losing $600 million on an investment in Trump Media.
“If we don’t see a green day tomorrow I may have to pay,” he said in a letter to Truth Social in September.
In another area, Social Truth has punished Washington PostA series of investors lost money on Trump Media stock, saying the leak had reached “a conclusion” and abandoning Trump Media’s full criticism of the story’s content.
Viaud, answering the Social truth criticism of Post story, he said he continued to invest in Trump Media and was able to recoup his losses “due to the success of the companies. [sic] stock performance.”
Fortune was unable to independently view Truth Social users’ investment portfolios. Users did not respond Fortune‘s requests for an interview, and Trump Media did not respond Fortune‘s request for comment.
The continued support of Mr. Trump’s media and technology company has become a way for Trump’s followers to show their support for the president-elect. But these retirees who were do-or-die at Trump Media before the election are in the process of waking up if they are still pouring money into stocks after Trump’s Nov. 5. Despite a 6% rise in stocks the day after the election, share prices immediately fell 13%, erasing early gains.
Stocks followed the example of the “Trump bump” a large stock explosion shortly after the election—which helped the S&P 500 gain 3.5% in the second week of November, its best post-election period ever—but has since dampened.