The guy in the picture is Chad Nedohin, described in The New York Times as a "part-time pastor and die-hard supporter of Donald J. Trump." You can click right here to read the article that calls him that. It appeared in the April 26, 2024, edition of the paper.
The hard copy version of the article I read, with the ink smudging my fingers, bore the following headline: "Pirate Pastor Helps Hype Trump Stock." Online, the headline is even more descriptive: "How a Pirate-Clad Pastor Helped Ignite Trump Media’s Market Frenzy."
The story to which I am citing indicates that the stock of "Trump Media" was, as of this past April, vastly inflated in price. Trump Media is a for-profit spin-off of Trump's "Truth Social," which was created by our former president after Twitter "permanently suspended President Trump's account." Here is a quick quote from the article:
By traditional metrics, Trump Media is not a successful business. The company reported $4 million in revenue last year and $58 million in losses. Compared with mainstream social sites, Truth Social has a minuscule audience — 1.5 million people visited the site last month, according to data from Similarweb, a small fraction of the 75 million who logged on to X.
Still, loyal investors like Mr. Nedohin are one reason Trump Media’s stock now trades at a valuation roughly equivalent to that of established companies like Wendy’s and Western Union. This month, Devin Nunes, Trump Media’s chief executive and a former Republican congressman, cited the enthusiasm of retail investors as a sign of the company’s strength.
I don't know why I am so "triggered," to use that term, by stories that tell us about people who are paying exhorbitant prices for speculative commodities that have little, or no, intrinsic value, and that are valued at a high price only because people expect the price to increase. For whatever reason, it's true that I am "triggered" by such news stories. I have written many blog postings, for instance, warning people to stay away from investments in cryptocurrency, and I think the stock frenzy around Trump Media, as documented in the article I have linked, is another example of the same phenomenon.
In this case, the stock frenzy comes in the garb of a pirate-clad pastor. It's Sunday. Pray for deliverance. Or, as I say in one of my blog postings about cryptocurrency: "Don't bite!"
Don't bite on any proposal to invest in Trump Media! It's not a solid bet.
In fact, going beyond that comment, I would also urge anyone reading this blog post not to invest in the former president's political campaign, either. Becoming "dictator for a day" is just not going to work out in the long run!
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