Trump Media, the parent company that owns Truth Social, has filed a formal complaint with the Nasdaq, expressing concern for potential market manipulation impacting the stock. The platform’s stock, DJT, has actually been doing well lately, all things considered. The stock gained as much as 45.3% this week, which is the best boost it’s gotten in nearly a month, Marketwatch writes.
The letter notes that, as of Wednesday, DJT had appeared on the Nasdaq’s “Reg SHO threshold list,” which is “indicative of unlawful trading activity.” Such lists, which are a regulatory requirement, can be indicative “of improper naked short selling,” Investopedia claims.
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