Jerry Dean McLain initially bet on Donald Trump’s Truth Social two years ago, buying shares in its planned merger partner, Digital World Acquisition (DWA), for $90 each. Despite the share price undergoing several fluctuations, McLain continued to buy, spending $25,000 in total.
Recently, McLain’s investment saw a considerable decrease in value as Trump Media & Technology Group’s shares dropped from $66 to $32 after its public launch last month. McLain, however, remains unfazed and is even considering buying more shares.
“This is about faith in the former president”, he asserts, shrugging off the significant $3.5 billion loss in the company’s value since it went public.
Conversely, as a business, Trump Media has underperformed with a $58 million loss last year. This did not deter enthusiastic Trump supporters like McLain, who sees the stock as a “badge of honor”.
Whilst the company lauds its pool of “retail investors”, critics call Trump Media a “scam” stock bought by “dopes”. Undeterred, McLain remains optimistic, insisting Trump’s venture is set to “explode anytime.”
