Trump Media Calls for SEC to Investigate ‘Suspicious’ Trading of DJT Stock

The media company of US President Donald Trump, Trump Media & Technology Group, urged federal supervisors on Thursday to investigate commercial activities related to its struggling shares.

Publicly letter To Securities and Exchange Commission acting chairman Mark Uyeda, the company behind Truth Social claimed that the British company Que may deal with ‘illegal short selling of DJT shares’.

Qube did not respond immediately Decrypts Request for comments.

TMTG claimed that Qube announced a short position of six million shares in Germany on 10 April, worth $ 105 million, without informing supervisors in his own areas of law on the position. Trump Media also claimed that the position of Qube has since almost doubled to 11 million shares, with reference to sources of third parties.

“We recommend that you immediately investigate this suspect trade and report your findings to TMTG and all relevant civil and criminal authorities,” said a representative of the Trump Media in the letter.

The allegations come when the shares of Trump Media fall after the struggle of the company against a whole series of legal and financial challenges – including an investigation into whether the social media platform Truth Social facilitated money and had the ties with Russian actors.

TMTG was closed last year with less than $ 4 million in turnover and operational losses of $ 400 million, according to his financial disclosure. TMTG shares ended the day trading at $ 22.04, a decrease of 35% from the start of this year.

The letter also comes when Trump -Media rises with various crypto industrial players, including one Exclusive cooperation with Crypto.com ETFs not yet launched for a series.

The call for the SEC to investigate Qube marks the last copy of a Trump ownership company that assembles a legal or regulatory challenge against an entity. In January, the company sued A Brazilian judge of the Supreme Court and said that he had broken our free-speech protection when he tried to close the accounts of a right-wing proponent of the former President Jair Bolsonaro of the country.

In 2023, TMTG sued 20 media organizations for defamation in an action that is going on.

Published by James Rubin