Trump Media Alerts SEC to Potential Manipulation of DJT stock

Rhea-AI Summary

Trump Media and Technology Group (DJT) has alerted the SEC about potential market manipulation of its stock. The company sent a memo on April 17, 2025, expressing concerns about suspicious trading activity, particularly regarding a U.K.-based hedge fund Qube Research & Technologies' disclosure of a nearly six-million share short position filed in Germany.

The company highlighted several concerning points: Qube's disclosure location (Germany) despite being U.K.-based with an Iceland data center, the total DJT short interest remaining steady at approximately 11 million shares (as of April 16, 2025), and the inability to confirm when Qube's reported trades were conducted. TMTG also noted DJT's previous appearance on Nasdaq's Regulation SHO Threshold Security List for over two months in 2024.

TMTG has requested an immediate investigation into potential illegal naked short selling of DJT shares, urging transparency in American equities exchanges.

Positive

• Company taking proactive measures to address potential market manipulation
• Engagement with multiple regulatory bodies (SEC, FINRA, Nasdaq, NYSE) for oversight

Negative

• Potential illegal naked short selling affecting stock performance
• Suspicious trading activity and unclear trade execution timing
• Extended presence on Nasdaq's Regulation SHO Threshold Security List indicating settlement issues

SARASOTA, Fla., April 17, 2025 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) ("TMTG" or "the Company"), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, sent the following memo to the U.S. Securities and Exchange Commission:

MEMO: Suspicious Trading Activity of DJT Stock

To: Mark Uyeda, Acting Chairman, U.S. Securities and Exchange Commission
From: Trump Media & Technology Group

Date: April 17, 2025
Subject: Potential Illegal Naked Short Selling and Market Manipulation of DJT Stock

CC: Financial Industry Regulatory Authority (FINRA); Nasdaq; New York Stock Exchange

This letter serves to inform you of suspicious activity related to a disclosure filed in Germany by the U.K.-based hedge fund Qube Research & Technologies (“Qube”). The following data points raise critical questions about the timing and methods used in Qube’s trading activities:

• On April 10, 2025, Qube disclosed a nearly six-million share short position in Trump Media & Technology Group Corp (“TMTG”) (NASDAQ, NYSE Texas: DJT). Thus, a U.K.-based entity, with a data center in Iceland, only disclosed these short sales in Germany.
• According to Nasdaq, the total short interest in DJT as of March 31, 2025, was 10.7 million shares (see attached chart). Third party sources inform TMTG that the total short interest as of April 16, 2025, is virtually unchanged—approximately 11 million shares.
• Neither Nasdaq, NYSE Texas, nor any other source has been able to confirm when the trades disclosed by Qube were conducted or if they were conducted at all.
  

The above factors, especially when combined with the history of suspicious trading surrounding DJT stock—including DJT appearing on Nasdaq’s Regulation SHO Threshold Security List continuously for more than two months in 2024—could be indications of the illegal naked short selling of DJT shares.

We urge you to immediately investigate this suspicious trading and report your findings back to TMTG and any relevant civil and criminal authorities. American equities exchanges should be operated with full transparency and maximum efficiency, not as an opaque free-for-all reminiscent of a third-world casino.

Source: https://www.nasdaq.com/market-activity/stocks/djt/short-interest

About TMTG

The mission of TMTG is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. TMTG is also launching Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.

Investor Relations Contact

Shannon Devine (MZ Group | Managing Director - MZ North America)
Email: shannon.devine@mzgroup.us

Media Contact

press@tmtgcorp.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c8f2402-0646-41da-8dd3-3556ca84e408

FAQ

What suspicious trading activity did Trump Media (DJT) report to the SEC on April 17, 2025?

TMTG reported Qube Research & Technologies' disclosure of a nearly six-million share short position in DJT, filed in Germany despite being a U.K.-based fund, raising concerns about potential illegal naked short selling.

What is the current short interest in DJT stock as of April 16, 2025?

The total short interest in DJT stock is approximately 11 million shares, relatively unchanged from the March 31, 2025 figure of 10.7 million shares.

Why did Trump Media (DJT) appear on Nasdaq's Regulation SHO Threshold Security List?

DJT appeared on Nasdaq's Regulation SHO Threshold Security List continuously for more than two months in 2024, indicating potential settlement issues or suspicious trading activity.

What regulatory actions has Trump Media requested regarding DJT stock trading?

TMTG has urged the SEC to immediately investigate the suspicious trading activity and report findings to TMTG and relevant civil and criminal authorities.