"Trump Media CEO Faces Backlash and Stock Volatility Amid Billionaire Donor's Firm Criticism"

1 min read
Source: The Guardian
"Trump Media CEO Faces Backlash and Stock Volatility Amid Billionaire Donor's Firm Criticism"
Photo: The Guardian
TL;DR Summary

The CEO of Donald Trump’s social media company, Trump Media & Technology Group (TMTG), was criticized by Citadel Securities, a firm owned by billionaire Republican donor Ken Griffin, as a "proverbial loser" attempting to shift blame for the company's stock market struggles. Devin Nunes, the CEO of TMTG, had accused large trading firms, including Citadel Securities, of potential market manipulation. TMTG retaliated, accusing Citadel of harming small investors. Nunes claimed that "naked" short-selling was behind the stock market turbulence, prompting a response from Citadel. TMTG's stock rallied 9.6% on Friday amidst the ongoing dispute.

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