Is Naked Short Selling Tanking Trump Media Stock? CEO Nunes Alleges Market Manipulation, Vows to Protect Investors

  • 2 months ago
Trump Media CEO Devin Nunes said he would "do whatever it takes" to defend retail investors in the company from possible illegal short selling. Trump Media's stock has sharply fallen from its debut peak, lowering the value of former President Trump's majority stake. Nunes warned Nasdaq about the potential for "naked" short selling of Trump Media stock. Naked short selling involves selling shares that have not been borrowed, betting the price will fall. Trump Media appeared on an SEC list indicating failed trades due to naked short selling. However, the SEC says naked shorting is not inherently illegal and the list is not proof of wrongdoing.