Trump Media pushes House to probe 8 firms over short-selling of DJT shares
Publishing timestamp: 2024-05-02 12:22:13
Summary
Trump Media CEO Devin Nunes is urging GOP House committee chairmen to investigate eight financial firms over concerns of potential illicit short selling of DJT shares. Nunes believes quick action is necessary to protect retail shareholders and determine if any laws have been violated. The company's majority shareholder is former President Donald Trump, who is currently barred from selling his shares until September. Nunes has suggested that the sharp fall in DJT's share price is due to naked short selling, not the company's revenue. The letter also escalates efforts to block short selling of Truth Social app owner's shares and asks Nasdaq Stock Market and House to probe potentially illegal activities.
Sentiment: MIXED
Tickers: DJT,
Keywords: devin nunes, laws, government and politics, markets, trump media & technology group corp, donald trump, business news, politics, breaking news: politics, social media, breaking news: markets, business,
Source: https://www.cnbc.com/2024/05/02/djt-trump-media-ids-firms-for-house-short-selling-probe.html