Trump Media & Technology Group DJT +9.42% ▲ , the company behind the Truth Social app, is asking the U.S. Securities and Exchange Commission (SEC) to launch an immediate investigation into a British hedge fund, Qube Research & Technologies. The company claims Qube’s $105 million short position is suspicious and may be a case of stock price manipulation. Trump Media questioned why Qube reported this short position only in Germany, even though the company trades in the U.S. on the Nasdaq.
In a memo to the SEC, Trump Media said that Nasdaq NDAQ +1.35% ▲ , NYSE Texas ICE +1.00% ▲ , or any other exchange has confirmed whether Qube’s disclosed trades actually took place. As a result, the company is concerned that this could be illegal naked short selling, which is when a trader sells shares they haven’t borrowed.
https://www.tipranks.com/news/trump-media-djt-demands-an-sec-probe-into-qubes-105m-short-bet
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