"Trump Media's Stock Rollercoaster: From Surge to Suspected Manipulation"
TL;DR Summary
Trump Media & Technology CEO Devin Nunes alleged market manipulation in a letter to Nasdaq, claiming extreme swings in the stock price since its IPO on March 26. He pointed to short-selling and identified four market participants responsible for over 60% of the trading volume. The company, listed under the ticker D-J-T, has not generated revenue and lost over $58 million in 2023. The allegations come as former President Donald Trump is on trial in New York City, and jury selection is underway.
Topics:business#devin-nunes#finance#market-manipulation#nasdaq#short-selling#trump-media-and-technology
- Trump Media flags Nasdaq on possible short-selling of shares Fox Business
- Trump Media warns Nasdaq of suspected market manipulation CNN
- Citadel Securities blasts Trump Media CEO Devin Nunes over short-selling letter CNBC
- Truth Social Exec Is Epically Destroyed Over Tanking Stock The New Republic
- Trump Media shares surge after a miserable run. Pros say stay away NPR
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