Trump Media & Technology Group (DJT, Financial) has raised concerns to the U.S. Securities and Exchange Commission (SEC) regarding trading activities connected to Qube Research & Technologies, a U.K.-based hedge fund. The company highlighted potentially suspicious activities in Qube's handling of its short positions on DJT stock, as disclosed in Germany.
Qube revealed a short position of nearly six million shares in DJT on April 10, 2025. Notably, this disclosure was made in Germany despite Qube's operations extending from the U.K. with data processing in Iceland. Trump Media points to the discrepancy in timing and geographical disclosure as a red flag.
Currently, Nasdaq reports DJT's total short interest as approximately 11 million shares as of April 16, 2025, maintaining a level similar to March 31, 2025, at 10.7 million shares. However, there is no verification from Nasdaq or other exchanges regarding the actual execution timing of Qube's trades.
Trump Media suggests these factors could potentially point to illegal naked short selling, especially considering DJT's history of being on Nasdaq's Regulation SHO Threshold Security List for over two months in 2024. The company is urging the SEC to conduct a thorough investigation into these activities to ensure market transparency and integrity.
