Nunes Complains To NASDAQ About Trump Stock Price

CNN Business reports:

Trump Media, the parent company of the former president’s Truth Social, alerted Nasdaq Inc. on Thursday of what the company suspects is illegal activity driving down the price of its shares. In a letter to the exchange, Devin Nunes, the CEO of Trump Media (DJT), laid out what he believes could be deemed “naked” short selling.

Naked short selling involves someone selling shares they don’t own or have not borrowed. They will often then try to buy shares at a reduced price to cover themselves. This practice is generally illegal. Whereas legitimate short sellers, people who seek to benefit from declines in the value of a company’s shares, borrow the shares before selling.

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BREAKING: Truth Social’s parent company, Trump Media , has filed a formal complaint with NASDAQ, complaining that the price of their stock keeps going down and isn’t going back up!https://t.co/2gYbahZjeZ

— LeGate (@williamlegate) April 19, 2024