Reported 4 months ago
Trump Media & Technology Group, led by CEO Devin Nunes, is requesting Nasdaq's assistance in investigating alleged market manipulation by short sellers targeting Donald Trump's social media company. This move aims to protect the company's shareholders and address potential illegal practices. Short sellers, such as Citadel Securities, are criticized for contributing to Trump Media's losses through naked short sales. Despite the accusations, experts question the $8 billion valuation of a struggling firm with minimal revenue largely reliant on the Trump brand. The company's stock, traded under the DJT ticker, has been volatile since its merger, attracting attention for its unusual trading patterns.
Source: YAHOO