Trump Media alerts Nasdaq to potential market manipulation from 'naked' short selling of DJT stock

Trump Media has warned the Nasdaq market of 'potential market manipulation' of the company's DJT stock by "naked" short selling of shares.

DJT's share price has rallied in recent days, but is still sharply lower than the more than $70 per share it debuted with on March 26. Former Presidentowns nearly 60% of Trump Media shares. The paper value of his stake has dropped by billions of dollars since DJT began public trading last month. But Nunes noted that as of Wednesday "DJT appears on Nasdaq's 'Reg SHO threshold list,' which is indicative of unlawful trading activity."

"I write to bring your attention to potential market manipulation of the stock of Trump Media & Technology Group Corp." Nunes wrote.

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Trump's social media company to trade under DJT ticker symbolFormer President Donald Trump's newly merged social media company will begin trading under the stock ticker symbol DJT on Tuesday, the firm said in a new regulatory filing. The company, which owns the Truth Social app platform, will be called Trump Media & Technology Group Corp., and will trade on the NASDAQ market. DWAC's share price soared more than 30% on Monday after an appeals court paused a civil business fraud judgment against Trump for 10 days, and sharply reduced the appeal bond he will have to post to extend that pause. The share price bounce more than made up for the step drop in DWAC's stock on Friday after the merger was approved.
Source: CNBC - 🏆 12. / 72 Read more »