Trump Media Raises Concerns Over Market Manipulation to Nasdaq

Trump Media informed Nasdaq Inc. about possible illegal short-selling activities that could be seen as market manipulation. Devin Nunes, the CEO of Trump Media, sent a letter to the chair and CEO of Nasdaq.

In the letter, Nunes discussed what he believes to be unauthorized short selling of shares of the parent company to Truth Social, owned by former President Donald Trump.

Naked short selling is when someone sells shares they don’t own or have not borrowed. This is usually illegal. Legitimate short sellers, on the other hand, borrow shares before selling to profit from a company's share value decline.

The letter was publicly disclosed on Friday in a filing with the Securities and Exchange Commission.

This is a breaking news story and will be updated.

Editor's P/S:

The allegations of illegal short-selling against Trump Media raise serious concerns about the integrity of the financial markets. Naked short selling, as described in the article, is a fraudulent practice that can artificially suppress a company's share price and harm investors. It is essential that Nasdaq and the SEC investigate these allegations thoroughly and take appropriate action to protect the investing public.

Furthermore, the involvement of former President Donald Trump in this matter adds another layer of complexity. Trump has a history of making unfounded accusations of financial wrongdoing, and it is unclear whether the allegations against Trump Media are legitimate or simply an attempt to deflect attention from other issues. Regardless, the public deserves to know the truth, and it is in the best interests of all parties involved to ensure that a fair and impartial investigation is conducted.