Trump Media & Technology Group (DJT) has asked the U.S. Securities and Exchange Commission (SEC) to investigate what it calls “suspicious” short-selling activity in its stock. It focuses on a large short position disclosed by the U.K.-based hedge fund Qube Research & Technologies. Qube revealed a short position valued at approximately $105 million.
This ended up sparking a nearly 12% rally in DJT shares on April 17 as similar actions against short sellers have fueled stock surges. For example, AppLovin (APP) rebounded after announcing it would be investigating short reports against the company. This isn’t the first time Trump Media has cried foul over short selling. In April 2024, CEO Devin Nunes, who is a former Republican Congressman, asked the Nasdaq Exchange to look into potential market manipulation. He later pushed House Republican committees to probe eight financial firms for similar reasons.
