Trump Media & Technology Group's stock price jumped over 9% after the company's CEO, Devin Nunes, asked House GOP leaders to investigate possible "unlawful manipulation" of DJT shares. Nunes claimed in a letter that over 60% of DJT shares have been traded by just four participants, including Citadel Securities. Nunes has requested GOP chairs to investigate "anomalous trading" of the stock to determine if there was manipulation and any violations of laws, including RICO statutes and tax evasion. Nunes alleges that Trump Media is being targeted by "naked" short selling, which involves selling shares of the company without borrowing them first.
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00:00It's Benzinga, and here's what's on the block.
00:02Trump Media and Technology Group's stock price jumped over 9% after the company's CEO,
00:07Devin Nunes, asked House GOP leaders to investigate possible unlawful manipulation of DJT shares.
00:13Nunes claimed in a letter that over 60% of DJT shares have been traded by just four participants,
00:18including Citadel Securities. Nunes has requested GOP chairs to investigate anomalous trading of
00:23the stock to determine if there was any manipulation or violations of laws,
00:28including RICO statutes and tax evasion. Nunes alleges that Trump Media is being
00:32targeted by naked short selling, which involves selling shares of the company
00:36without borrowing them first. Nunes accused brokers of having significant financial
00:40incentive to lend non-existent Trump Media shares for short selling.
00:43For all things money, visit Benzinga.com.