Title: Trump Media CEO Devin Nunes Vows to Protect Retail Investors from Short Selling
In a bold move to protect retail investors, Trump Media CEO Devin Nunes has pledged to defend the company’s shares from potential illegal short selling. Nunes recently criticized President Joe Biden for mentioning Trump Media’s declining stock price in a speech, expressing concerns about market manipulation.
Since its debut, Trump Media’s stock, trading under the ticker DJT, has experienced a sharp decline, impacting former President Donald Trump’s stake in the company. Nunes has raised alarms about potential naked short selling of Trump Media stock, urging the CEO of Nasdaq to take action based on reports he has received.
While the SEC clarifies that naked short selling is not necessarily illegal unless it is used to manipulate the market, Nunes remains vigilant. He notes that being listed on the Reg SHO list does not always indicate illegal trading practices. Nunes also called out Citadel Securities, a market firm mentioned in his letter, for belittling his claims about market manipulation.
In response to Citadel Securities’ mocking, Nunes fired back, questioning their dismissive attitude and standing by his assertions regarding potential market manipulation. The clash between Nunes and Citadel Securities highlights the tension surrounding Trump Media’s stock performance and the allegations of short selling.
As the battle between Nunes and market players continues, retail investors will be watching closely to see how Trump Media’s shares fare in the volatile market. Stay tuned to Road Rug Cars for the latest updates on this developing story.
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