Trump Media Reports Suspected 'Naked' Short Selling of DJT Stock to Nasdaq

Apr 19, 2024, 01:09 PM

Trump Media has reported to Nasdaq concerns of potential market manipulation involving 'naked' short selling of its stock, identified by the ticker DJT. The company has seen its stock price rise notably, marking its best day in three weeks, and has advised shareholders on measures to prevent their shares from being loaned to short sellers. This strategy is aimed at curbing the impact of short sellers betting on the decline of the stock's value. Additionally, Trump Media's actions include a formal alert to Nasdaq about the suspected illegal trading activity, which could be detrimental to the stock's performance.