Trump Media Accuses Citadel, Files NASDAQ, SEC Complaints Amid Stock Fluctuations

Apr 19, 2024, 10:09 PM

Trump Media, led by CEO Devin Nunes, has been embroiled in a contentious dispute over its stock performance, involving accusations of market manipulation and targeting short sellers. The company, which saw its stock price dramatically fluctuate and even spike, claims that major market participants like Citadel Securities are heavily involved in trading its shares, potentially manipulating the market. In response, Trump Media has filed complaints with NASDAQ and the SEC, seeking to address these concerns. Amidst this turmoil, the company's stock has experienced significant trading volumes and price movements, with allegations of 'naked' short selling being a focal point of the controversy. The stock was up more than 3%, and the company recently awarded Trump stock worth over $1 billion.