The letter marks a new salvo in Trump Media's claims that the company's stock is being manipulated by professional traders betting on its downfall.
The letter marks a new salvo in Trump Media’s claims that the company’s stock is being manipulated by professional traders betting on its downfall.
The stock initially surged as individual investors bought shares, often as a means of showing support for the presumptive GOP presidential nominee. But Trump Media, which trades on the Nasdaq stock exchange under the ticker DJT, has since plunged in value as the company has disclosed more information about its underlying financials and moved to permit some large investors to eventually cash out if they want.
Spokespeople for Jordan, McHenry, Smith and Comer did not immediately respond to requests for comment. Typical shorting involves traders borrowing shares that they then sell into the market before buying them back later — hopefully at a lower price to collect the difference. But naked short selling entails never borrowing the stock to start, a far riskier practice.
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