Trump Media warned the Nasdaq CEO of potential market manipulation of DJT stock from "naked" short selling. Naked short selling involves selling stocks without first borrowing them, which is generally illegal. TMTG provided shareholders instructions to avoid lending shares to short sellers betting prices will fall. TMTG CEO cited circumstantial evidence DJT was the most expensive US stock to short, incentivizing brokers to lend nonexistent shares. DJT stock has rallied but remains sharply below its $70 debut price, lowering Trump's paper wealth. Data showed top 4 market participants handled over 60% of DJT volume.
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00:00 It's Benzinga and here's what's on the block.
00:02 Trump media warned the Nasdaq CEO of potential market manipulation of DJT stock from "naked
00:07 short selling." Naked short selling involves selling stocks without first borrowing them,
00:11 which is generally illegal. TMTG provided shareholders instructions to avoid lending
00:16 shares to short sellers, betting prices will fall. TMTG's CEO cited circumstantial evidence
00:21 DJT was the most expensive U.S. stock to short, incentivizing brokers to lend non-existent shares.
00:27 DJT stock has rallied but remains sharply below its $70 debut price, lowering Trump's paper wealth.
00:33 Data showed top four market participants handled over 60% of DJT volume.
00:38 For all things money, visit Benzinga.com.