Trump Media and Technology Group has raised serious concerns about potential stock manipulation involving a UK-based hedge fund, Qube Research & Technologies. The company filed a memo with regulatory bodies, including the SEC, FINRA, and major stock exchanges, after Qube disclosed a short position of approximately 6 million shares in mid-April.
The tech company claims the short interest remains unchanged and questions the legitimacy of Qube's reported trades. Nasdaq's records show a total short interest of 10.7 million shares as of March 31. Trump Media suggests the situation may involve illegal naked short selling, pointing to the stock's continuous appearance on the Nasdaq Regulation SHO Threshold Security List for over two months in 2024.
This is not the first time Trump Media has raised concerns about potential stock manipulation. The company has previously written to Congressional committees and requested investigations from the Nasdaq exchange and Florida's attorney general. These efforts have not produced visible results.
President Trump continues to hold a majority stake in the company. With ongoing global discussions about US import tariffs, the SEC might be more inclined to investigate the allegations involving a foreign hedge fund. The company remains vigilant about protecting its stock's integrity and market performance.
The tech company claims the short interest remains unchanged and questions the legitimacy of Qube's reported trades. Nasdaq's records show a total short interest of 10.7 million shares as of March 31. Trump Media suggests the situation may involve illegal naked short selling, pointing to the stock's continuous appearance on the Nasdaq Regulation SHO Threshold Security List for over two months in 2024.
This is not the first time Trump Media has raised concerns about potential stock manipulation. The company has previously written to Congressional committees and requested investigations from the Nasdaq exchange and Florida's attorney general. These efforts have not produced visible results.
President Trump continues to hold a majority stake in the company. With ongoing global discussions about US import tariffs, the SEC might be more inclined to investigate the allegations involving a foreign hedge fund. The company remains vigilant about protecting its stock's integrity and market performance.
