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Retirees loyal to Trump have heavily invested in Trump Media, even though the stock has shown significant volatility. A noteworthy example is a user known as @DTLjohnny on Truth Social, who revealed that he had invested 98% of his retirement savings into the stock. By September, he disclosed a loss of 60% but remained optimistic about the company's prospects. He attributed the stock's decline to what he perceived as deep state interference and expressed confidence that Trump and Trump Media CEO Devin Nunes had a secret plan to reverse the situation.

Similarly, John Viaud, a retiree from South Carolina, shared concerns about his precarious financial state after losing $600,000 in Trump Media investments. On Truth Social, he mentioned the potential need to withdraw his investment if the stock did not improve soon. Although Viaud initially faced a significant loss, he claimed that the stock's subsequent performance helped him recover most of his investment.

The investment fervor among Trump supporters underscores their deep commitment, but financial reality is proving harsh. Trump Media's stock experienced a dramatic rise of over 300% from late September to late October, followed by a steep 40% decline. Shares also showed a temporary 6% increase immediately post-election, which was quickly erased by a 13% drop.

Trump Media's journey since March 26, when it first traded publicly, has been tumultuous, losing over 53% of its value. The situation worsens as top executives like CFO Phillip Juhan and director Eric Swider have sold significant portions of their shares—536,000 combined—since the election. Despite these setbacks, Trump retains his stake as the largest shareholder with 54% ownership, valued at around $3.2 billion.

The company's financial troubles are rooted in its poor revenue performance: Truth Social generated only $2.6 million from advertising in the first nine months of the year, down 23% from the previous year, and reported a staggering loss of $363 million. In light of these challenges, Trump Media is exploring launching a cryptocurrency payment platform called TruthFi to diversify its revenue streams.

Truth Social, initiated in early 2022 to give Trump a platform following his bans from Twitter and Facebook, has found it challenging to maintain its relevance, especially with Elon Musk's X providing a robust space for conservative voices since Musk's takeover. Truth Social's user base as of September was markedly lower, with only 698,000 monthly active users compared to X's 70.4 million. The possible alliance between the two platforms may further undermine Truth Social's unique appeal.

Finance experts, like Baylor University's Mike Stegemoller, argue that Trump's restored presidency and global platform diminish the need for an app specifically designed to amplify his voice, especially given its minimal revenue generation. The road ahead for Trump Media and its optimistic retirees remains fraught with uncertainty.