- Truth Social parent publishes CEO’s letter to committee chairs
- Social media firm trades at over 30 times Nvidia’s multiple
Donald Trump’s social media startup publicized a letter to the heads of various US House of Representatives committees, doubling down on claims that an illegal form of short selling may be hitting its stock.
Trump Media & Technology Group Corp. Chief Executive Officer Devin Nunes penned a letter asking for an investigation into the trading of the stock and whether laws including those governing racketeering and tax evasion were violated. The parent of Truth Social has flagged concern that so-called “naked” short sales, which involve betting against a stock without first borrowing shares, could potentially be occurring, hurting its loyal retail investors.
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