Shares of Donald Trump's media and technology company rose over 3% on Friday after it asked the Nasdaq exchange to help prevent alleged market manipulation in its shares by so-called 'naked' short sellers.
Shares of Donald Trump's media and technology company rose over 3% on Friday after it asked the Nasdaq exchange to help prevent alleged market manipulation in its shares by so-called "naked" short seller s. Trump Media & Technology Group wrote to Nasdaq CEO Adena Friedman alerting the exchange to "potential market manipulation" in the stock, it disclosed in a Friday filing with the Securities and Exchange Commission.
Short selling involves borrowing a stock to sell it on the expectation the price will fall, then repurchasing the shares and pocketing the difference. He did not provide evidence of naked short selling but noted that as of April 17, DJT was on Nasdaq's Reg SHO threshold list, which he said is "indicative of unlawful trading activity."
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