Trump’s Media Empire Claims Wall Street Is Targeting Its Stock
Tensions are rising between Trump Media & Technology Group and the U.S. Securities and Exchange Commission following new accusations that trading activity around the company’s stock is being manipulated.
On April 17, the media firm sent a memo to the SEC, expressing concern that DJT—the company’s publicly traded stock—may be the target of illegal short-selling practices.
At the heart of the complaint is a controversial trading maneuver known as naked short selling. Unlike traditional short positions, where shares are borrowed before being sold, this practice involves selling without securing the shares first—a loophole that can distort price movement and, in many cases, delay trade settlements. Though largely outlawed after the 2008 financial crisis through Regulation SHO, allegations of its continued use still appear in corners of the market.
Trump Media’s memo specifically points the finger at U.K.-based hedge fund Qube Research & Technologies, which recently revealed it had taken a sizable short position against DJT. The company believes Qube may have engaged in improper shorting methods, citing data that shows short interest in DJT hovering near 11 million shares—virtually unchanged since the end of March.
Further stoking the fire is DJT’s recurring appearance on Nasdaq’s REG SHO Threshold List, a category used to identify securities with persistent settlement failures. Trump Media argues that being flagged on this list for two straight months suggests that substantial volumes of DJT are being sold but not delivered—a possible sign of manipulation.
Despite the accusations, the market hasn’t reacted dramatically. DJT’s stock has shown minor gains this month, recently trading around $20.50. Even with Qube’s short position on record, there’s been no noticeable market correction tied directly to the hedge fund’s disclosure.
Trump Media has previously raised concerns about short-selling abuse. Last year, CEO Devin Nunes brought up similar issues in letters to both Congress and the Nasdaq exchange, but no regulatory action followed. With this latest complaint, the company appears to be renewing its campaign to push regulators into investigating what it believes are unfair trading dynamics impacting its stock.
Whether the SEC chooses to act this time remains to be seen. But the move signals that Trump Media isn’t backing away from its claims—and may be preparing to make stock market manipulation a recurring part of its narrative.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
