Stock Manipulation In Trump Media & Technology Group Stock? CEO Devin Nunes Urges House GOP Leaders To Investigate
Portfolio Pulse from Nabaparna Bhattacharya
Trump Media & Technology Group Corp. (NASDAQ:DJT) shares are experiencing volatility amid concerns of stock manipulation. CEO Devin Nunes has requested an investigation by House GOP leaders into potential unlawful trading activities, citing the company's continuous appearance on Nasdaq's 'Reg SHO threshold list' since April 2, 2024, indicative of such activities. Nunes highlighted the high cost of shorting DJT shares and the financial incentives for brokers to lend non-existent shares. The company has advised shareholders to hold their shares in cash accounts and opt out of securities lending programs to prevent their shares from being lent out for short selling.
April 24, 2024 | 4:19 pm
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Trump Media & Technology Group Corp. (NASDAQ:DJT) is under scrutiny for potential stock manipulation, with CEO Devin Nunes urging an investigation. The company advises shareholders to prevent their shares from being lent for short selling.
The request for an investigation into potential stock manipulation and the advice given to shareholders to hold their shares in a manner that prevents short selling could lead to increased investor confidence and a potential short-term increase in stock price. However, the volatility and the nature of the allegations could also introduce uncertainty.
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