Trump Media warns Nasdaq of suspected market manipulation

[Nevilledog]

https://www.cnn.com/2024/04/19/markets/trump-media-nasdaq-suspected-market-manipulation/index.html


New York
CNN
—
Trump Media, the parent company of the former president’s Truth Social, alerted Nasdaq Inc. on Thursday of what the company suspects is illegal activity driving down the price of its shares.

In a letter to the exchange, Devin Nunes, the CEO of Trump Media (DJT), laid out what he believes could be deemed “naked” short selling.

Naked short selling involves someone selling shares they don’t own or have not borrowed. They will often then try to buy shares at a reduced price to cover themselves. This practice is generally illegal. Whereas legitimate short sellers, people who seek to benefit from declines in the value of a company’s shares, borrow the shares before selling.

The letter was made public Friday in a filing with the Securities and Exchange Commission.

Nunes also noted in the letter that shares of the company were on a list the Nasdaq maintains that’s “indicative of unlawful trading activity.”

*snip*

[spanone]

1. Yea, sure. If he's not making money it's all rigged.

FuckHim

[SWBTATTReg]

2. Of course, they're blaming 'unnamed' sources and nefarious characters into why their stock is collapsing. They'll

never admit that the fundamentals of the company are so bad, that the price of the shares must drop, to accurately reflect the realistic price/earnings share. They (the shares) still have a ways to drop. For those that bought the stock at its horribly high PE ratio, well, be prepared to sit there for a very long time, if forever, to ever regain your money.

[struggle4progress]

3. "Our attempts to pump up the price aren't working, so something corrupt must be afoot"

[Scrivener7]

4. .

[Irish_Dem]

5. When they lose it is always someone else's fault.

When they win they believe they are the smartest people alive.

[VMA131Marine]

6. Would Trump try to short his own stock

if he thought it would make him more money?

…

Of course he would.

[RockRaven]

7. Oh, so it has nothing to do with your P/E ratio of a bajillion-to-one?

Instead of being the predictable/expected outcome given that highly publicized widely reported information... it is a secret plot of voluminous illegal activity -- of which you have no direct evidence.

Yeah, sounds legit.

[oldsoftie]

8. Welcome to the stock market dipshit. They never do anything about naked shorting.

They SHOULD but they never do. They SHOULD ban ALL institutional short selling & shorting of low volume stocks. But they wont because too many high earners make tons of money smashing stock prices of legit companies using things like "citizens petitions" & the like.

However, in THIS case, I'll be a hypocrite and say SHORT THE SHIT OUT OF IT. Although there are no shares available to short & the COST is very high for those who are doing it.

[louis-t]

9. And your proof, you whiny crybaby, is?

Your worthless stock should be going up because YOU say so?

[C_U_L8R]

10. Accuse others of what you are guilty of.

It's the narcissist's way to divert and distract