TrumpMedia and Technology Group (DJT, Financial) has reached out to the U.S. Securities and Exchange Commission (SEC), highlighting concerns regarding unusual trading activities linked to their stock. The company has flagged a disclosure made in Germany by the UK-based hedge fund Qube Research & Technologies, raising questions about the timing and execution of Qube’s trades.
The memo from TrumpMedia identified several data points that suggest potential improprieties in trading, particularly emphasizing concerns surrounding DJT's frequent appearance on Nasdaq's Regulation SHO Threshold Security List. The stock has been listed there consistently for over two months in 2024, which the company believes could suggest illegal naked short selling of its shares.
TrumpMedia is calling for an immediate investigation by the SEC to probe these activities and has requested that findings be shared with both the company and relevant authorities for further civil or criminal action. The company advocates for American stock exchanges to operate transparently and efficiently, steering clear of opaque trading practices.
