Trump's media company urges feds to probe firm that bet against it

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Trump's media company urges feds to probe firm that bet against it

//media-entertainment.news-articles.net/content/ .. rges-feds-to-probe-firm-that-bet-against-it.html

Published in Media and Entertainment on Wednesday, April 23rd 2025 at 16:44 GMT by MSNBC

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

The president's media company is urging the Securities and Exchange Commission to investigate a firm that bet against it, Reuters is reporting.

2025-04-23 312 x 208 / 59672 Bytes

Trump Media & Technology Group, the company behind Truth Social, has urged federal regulators to investigate potential "unlawful manipulation" of its stock, which has experienced significant volatility since its public debut. The company, now trading under the ticker "DJT," saw its shares surge and then plummet, prompting concerns over possible "naked" short selling, a practice where investors sell shares they do not possess. In a letter to the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC), Trump Media's CEO, Devin Nunes, requested an investigation into this matter, highlighting the unusual trading volumes and the impact on the company's stock price. The company's public listing came about through a merger with Digital World Acquisition Corp., and it has been a focal point for both supporters and critics of former President Donald Trump.

Read the Full MSNBC Article at:
[ https://www.yahoo.com/news/trump-media-company-urges-feds-230240900.html ]