Trump Media & Technology Group Corp. DJT shares are trading slightly lower in the premarket session on Friday.
Yesterday, the company sent its fourth congressional letter to follow up the previously disclosed letters concerning potential manipulation of the stock.
Trump Media’s CEO, Devin Nunes, wrote the letter addressing each of the Chairmen of the U.S. House of Representatives Committee on the Judiciary, Committee on Financial Services, Committee on Ways and Means, and Committee on Oversight and Reform. The letter has been published in an exchange filing.
“In my previous letters, I explained the serious anomalies surrounding the trading of DJT stock. I also described DJT’s constant appearance on the Nasdaq Reg SHO Threshold List from April 2, 2024, through June 4, 2024, a result of persistent failures to deliver of DJT,” Nunes wrote.
According to the CEO, the above points strongly indicate that former President Donald Trump’s Trump Media, which acts behind the Truth Social platform, may have been subject to illegal “naked” short selling.
“I write today to inform you that these acute anomalies appear to have continued since my last letter,” Nunes added in the letter.
Recent data from the Securities and Exchange Commission for May 1 – May 15 reveal that Failures To Deliver (FTDs) for Trump Media remain shockingly high.
The exchange filing added that FTDs exceeded one million shares on seven of the ten trading days covered by the data, and on three of those days—May 2, May 3, and May 6—they exceeded two million shares.
Trump Media requested that the Financial Industry Regulatory Authority issue Electronic Blue Sheet requests to firms facilitating short sales on April 29, April 30, May 1, May 2, May 3, May 6, May 30, May 31, and June 3.
Nunes said recipients of these requests should include the following financial firms: Citadel Securities, VIRTU Americas, G1 Execution Services, Jane Street Capital, ApexClearing, Clear Street, Cobra Trading, Cowen and Company, Curvature Securities, StoneXSecurities, TradePro, UBS and Velocity Clearing.
Price Action: DJT shares are trading lower by 0.70% to $45.70 premarket at last check Friday.
Image: Shutterstock/ fizkes
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