Trump Media & Technology Group Urges Shareholders to Recall Shares to Combat Short Selling
Portfolio Pulse from Benzinga Newsdesk
Trump Media & Technology Group Corp. (NASDAQ:DJT) is advising its shareholders to recall their shares from brokerage firms to prevent them from being lent out for short selling. The company emphasizes the importance of shareholders holding their shares in a cash account, opting out of securities lending programs, or transferring them to a Direct Registration System account with Odyssey Transfer & Trust Company to support TMTG's mission against Big Tech censorship.
April 29, 2024 | 10:06 am
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Trump Media & Technology Group Corp. is actively encouraging its shareholders to recall shares to prevent short selling, potentially affecting the stock's liquidity and volatility.
By urging shareholders to recall their shares and opt out of securities lending programs, TMTG aims to reduce the number of shares available for short selling, which could decrease selling pressure and potentially support or increase the stock price in the short term. However, the effectiveness of this strategy depends on the shareholders' response and the overall market conditions.
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