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Trump Media has reported to Nasdaq concerns of potential market manipulation involving 'naked' short selling of its stock, identified by the ticker DJT. The company has seen its stock price rise notably, marking its best day in three weeks, and has advised shareholders on measures to prevent their shares from being loaned to short sellers. This strategy is aimed at curbing the impact of short sellers betting on the decline of the stock's value. Additionally, Trump Media's actions include a formal alert to Nasdaq about the suspected illegal trading activity, which could be detrimental to the stock's performance.
Trump Media is alerting Nasdaq that its stock — trading under the ticker DJT, after former Pres. Trump's initials — may be the victim of "potential market manipulation" due to short-selling activity. https://t.co/qiBedmY6zt
Trump Media says an illegal form of short selling might be behind the battering of its stock and it’s asking regulators at Nasdaq to step in https://t.co/PN8phlMSpu
Amazing response from Citadel Securities to DJT @DevinNunes letter to Nasdaq warning of naked short selling manipulation “Devin Nunes is the proverbial loser who tries to blame “naked short selling” for his falling stock price. Nunes is exactly the type of person Donald Trump…