What's Going On With Trump Media & Technology Stock Today?

Trump Media & Technology Group Corp. DJT saw its shares edge higher Thursday after the company sent a complaint to federal regulators, citing potential market manipulation involving its stock.

The memo, addressed to the U.S. Securities and Exchange Commission, raises concerns about unusual trading patterns and a foreign hedge fund’s large short position disclosure.

In the Thursday letter, Trump Media & Technology alleged that U.K.-based hedge fund Qube Research & Technologies disclosed a nearly six-million share short position in DJT stock through a German filing.

The company questioned the lack of transparency around the timing and execution of these trades.

Trump Media & Technology stated that despite the Qube filing, short interest in DJT shares remains relatively unchanged, hovering around 11 million shares as of Wednesday.

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The company claims no U.S. exchange or regulatory authority has been able to verify when—or even if—Qube executed the trades associated with the disclosed position.

The firm argues that the lack of clarity, combined with DJT’s persistent presence on Nasdaq’s Regulation SHO Threshold List throughout much of 2024, may signal the presence of illegal naked short selling.

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The complaint was also forwarded to FINRA, Nasdaq, and the New York Stock Exchange for review.

“We urge you to immediately investigate this suspicious trading and report your findings back to TMTG and any relevant civil and criminal authorities,” the company said. 

The company emphasized that U.S. markets should operate with integrity and warned against conditions that resemble “a third-world casino.”

According to Benzinga Pro, DJT stock has lost over 21% in the past year.

Price Action: DJT shares are trading higher by 11% to $21.94 at last check Thursday.

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