New York CNN —Trump Media & Technology Group is asking Congress to investigate its suspicions that illegal activity is driving down its share price.
Nunes, himself a former Republican congressman from California, pointed to how Trump Media has been among the most expensive stocks to borrow.
Nunes suggested there are signs of “naked” short selling, which involves someone selling shares they don’t own or have not borrowed.
Jay Ritter, a finance professor at the University of Florida, said there are more obvious explanations for why some traders are betting against Trump Media.
Last week, Nunes wrote a letter to Nasdaq, where Trump Media shares trade, alerting the exchange to concerns about market manipulation.
Persons:
New York CNN —, Devin Nunes, ” Nunes, Nunes, ” Jonathan Macey, Jay Ritter, ”, Jay Ritter, Ritter, Jane Street, Ken Griffin, “ Devin Nunes, ‘
Organizations:
New, New York CNN, New York CNN — Trump Media & Technology Group, Truth Social, Trump Media, Financial Services, Republican, Traders, Yale Law School, CNN, University of Florida, ” Trump Media, Trump, Citadel Securities, Virtu, Jane, Capital, Citadel, Nasdaq, CNBC
Locations:
New York, California, Virtu Americas, America