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Small-time investors in Trump’s Truth Social reckon with stock collapse
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.
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. Its merger partner, Digital World Acquisition, said its shares were bought by nearly 400,000 retail investors, and Trump Media’s chief executive, Devin Nunes, told Fox News anchor Maria Bartiromo on Sunday that the company had added over 200,000 new ones in the past couple of weeks. That range of emotions is on full display on Truth Social, where thousands of mostly anonymous accounts have flocked to meme-filled investor groups, one of which is emblazoned with a computer-generated image showing Trump pumping his fist on a Wall Street trading floor.
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