What's Going On With Trump Media & Technology Stock On Tuesday?
Portfolio Pulse from Nabaparna Bhattacharya
Trump Media & Technology Group Corp. (NASDAQ:DJT) shares have been declining, with the company alleging naked short selling and advising shareholders to hold shares in cash accounts to prevent lending for short selling. The company has also recommended moving shares to a Direct Registration account to further protect against short selling. DJT shares dropped 8.73% to $32.40.
April 23, 2024 | 4:14 pm
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DJT shares are declining due to allegations of naked short selling and the company's measures to combat it.
The decline in DJT shares is directly related to the company's public allegations of naked short selling and its advice to shareholders, which may have increased investor concern and led to a decrease in stock price. The company's specific recommendations to shareholders to hold shares in cash accounts and to opt out of securities lending programs are aimed at reducing the ability for short sellers to borrow shares, which could impact the stock's liquidity and investor sentiment in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100