One afternoon last month, Chad Nedohin, a part-time pastor and die-hard supporter of Donald Trump, put on a pirate costume, set up his microphone and recited a prayer.
Nedohin is one of hundreds of thousands of amateur investors who own shares of Trump Media, convinced that its sole platform, Truth Social, will become one of the world’s most popular and profitable social media sites. In recent months, tens of thousands of Trump fans have tuned into Nedohin’s webcasts, where he exhorts viewers to invest in the company, arguing that “Trump always wins in the long run.
A Canadian citizen, Nedohin cannot vote for Trump in November. But he owns more than 1,000 shares in Trump Media, which are trading at about $36, down roughly 50% from its peak in March. Truth Social “has the potential to easily eclipse Twitter,” the app now known as X, Nedohin said in an interview. “I’m not concerned about my investment whatsoever.”
Any suggestion that those traders might lose money amounts to “punching down at hundreds of thousands of everyday American retail investors,” Shannon Devine, a Trump Media spokesperson, said in an email. Nedohin had been a fan ever since Trump glided down the escalator at Trump Tower in Manhattan to announce his 2016 campaign. He considers the former president a supporter of Christian values and believes the 2020 election was stolen from him.
That inquiry delayed Trump Media’s plans to go public, and the price of Digital World’s stock dropped. Nedohin was concerned. But in the spring of 2022, he said, he received a message from God. Nedohin’s advocacy got the attention of Eric Swider, a Trump Media board member and former Digital World chief executive, who appeared on “DWAC’d Live!” last year.
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