TMTG reports suspicious trading and potential market manipulation of DJT stock, urging SEC investigation into Qube's activities.
Quiver AI Summary
Trump Media and Technology Group Corp. (TMTG), known for its social media platform Truth Social and other services, has alerted the U.S. Securities and Exchange Commission (SEC) about suspicious trading related to its stock, DJT. The memo points to nearly six million shares that the U.K.-based hedge fund Qube Research & Technologies disclosed shorting, raising concerns due to the lack of clarity on the timing of these trades and their confirmation by major exchanges. TMTG highlights a history of suspicious trading around DJT stock, including its presence on Nasdaq’s Regulation SHO Threshold Security List for over two months in 2024. The company is urging the SEC to investigate potential illegal naked short selling and ensure transparency in American equity exchanges.
Potential Positives
- TMTG has formally alerted the U.S. Securities and Exchange Commission about suspicious trading activity, indicating proactive measures to protect investor interests.
- The memo highlights potential illegal trading practices, which could lead to regulatory scrutiny and a more transparent trading environment for TMTG shares.
- The company's assertion regarding being targeted by market manipulation could enhance its reputation among existing and potential investors as a defender of market integrity.
- TMTG continues to emphasize its mission of supporting free speech and transparency, reinforcing its brand identity and appealing to a niche market concerned about censorship in technology.
Potential Negatives
- The company is publicly requesting an investigation into suspicious trading activity, which may imply issues with stock confidence and raise concerns among investors.
- The mention of DJT being on Nasdaq’s Regulation SHO Threshold Security List for an extended period suggests ongoing problems with short selling practices that may deter potential investors.
- The press release highlights potential illegal activities involving stock manipulation, which can damage the company's reputation and investor trust.
FAQ
What is Trump Media and Technology Group Corp. (TMTG)?
Trump Media and Technology Group Corp. operates the social media platform Truth Social and the streaming service Truth+, along with the FinTech brand Truth.Fi.
What suspicious activity was reported regarding DJT stock?
TMTG informed the SEC about potential illegal naked short selling and market manipulation related to Qube's trading activities of DJT stock.
Who is Qube Research & Technologies?
Qube Research & Technologies is a U.K.-based hedge fund that disclosed a short position in TMTG, raising concerns about its trading methods.
How can investors report suspicious trading activities?
Investors should report suspicious trading activities to regulatory authorities such as the SEC and FINRA for investigation and transparency.
What does TMTG aim to achieve?
TMTG aims to combat censorship from Big Tech by providing platforms that promote free speech and alternative media content.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DJT Congressional Stock Trading
Members of Congress have traded $DJT stock 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $DJT stock by members of Congress over the last 6 months:
- REPRESENTATIVE MORGAN MCGARVEY has traded it 2 times. They made 1 purchase worth up to $15,000 on 11/06 and 1 sale worth up to $15,000 on 11/08.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$DJT Insider Trading Activity
$DJT insiders have traded $DJT stock on the open market 9 times in the past 6 months. Of those trades, 0 have been purchases and 9 have been sales.
Here’s a breakdown of recent trading of $DJT stock by insiders over the last 6 months:
- PHILLIP JUHAN (CFO and Treasurer) has made 0 purchases and 5 sales selling 405,059 shares for an estimated $12,349,701.
- ERIC SWIDER has made 0 purchases and 3 sales selling 151,183 shares for an estimated $4,140,896.
- SCOTT GLABE (General Counsel and Secretary) sold 15,917 shares for an estimated $512,368
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$DJT Hedge Fund Activity
We have seen 158 institutional investors add shares of $DJT stock to their portfolio, and 83 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 5,793,934 shares (+180.3%) to their portfolio in Q4 2024, for an estimated $197,573,149
- BLACKROCK, INC. added 1,088,520 shares (+40.7%) to their portfolio in Q4 2024, for an estimated $37,118,532
- CAPITAL FUND MANAGEMENT S.A. removed 1,008,126 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $34,377,096
- UBS GROUP AG added 980,212 shares (+5097.0%) to their portfolio in Q4 2024, for an estimated $33,425,229
- CITADEL ADVISORS LLC added 940,706 shares (+4241.2%) to their portfolio in Q4 2024, for an estimated $32,078,074
- GREENWICH WEALTH MANAGEMENT LLC removed 681,134 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $23,226,669
- MELQART ASSET MANAGEMENT (UK) LTD added 549,106 shares (+inf%) to their portfolio in Q4 2024, for an estimated $18,724,514
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SARASOTA, Fla., April 17, 2025 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) ("TMTG" or "the Company"), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, sent the following memo to the U.S. Securities and Exchange Commission:
MEMO: Suspicious Trading Activity of DJT Stock
To: Mark Uyeda, Acting Chairman, U.S. Securities and Exchange Commission
From: Trump Media & Technology Group
Date: April 17, 2025
Subject:
Potential Illegal Naked Short Selling and Market Manipulation of DJT Stock
CC: Financial Industry Regulatory Authority (FINRA); Nasdaq; New York Stock Exchange
This letter serves to inform you of suspicious activity related to a disclosure filed in Germany by the U.K.-based hedge fund Qube Research & Technologies (“Qube”). The following data points raise critical questions about the timing and methods used in Qube’s trading activities:
- On April 10, 2025, Qube disclosed a nearly six-million share short position in Trump Media & Technology Group Corp (“TMTG”) (NASDAQ, NYSE Texas: DJT). Thus, a U.K.-based entity, with a data center in Iceland, only disclosed these short sales in Germany.
- According to Nasdaq, the total short interest in DJT as of March 31, 2025, was 10.7 million shares (see attached chart). Third party sources inform TMTG that the total short interest as of April 16, 2025, is virtually unchanged—approximately 11 million shares.
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Neither Nasdaq, NYSE Texas, nor any other source has been able to confirm when the trades disclosed by Qube were conducted or if they were conducted at all.
The above factors, especially when combined with the history of suspicious trading surrounding DJT stock—including DJT appearing on Nasdaq’s Regulation SHO Threshold Security List continuously for more than two months in 2024—could be indications of the illegal naked short selling of DJT shares.
We urge you to immediately investigate this suspicious trading and report your findings back to TMTG and any relevant civil and criminal authorities. American equities exchanges should be operated with full transparency and maximum efficiency, not as an opaque free-for-all reminiscent of a third-world casino.
Source: https://www.nasdaq.com/market-activity/stocks/djt/short-interest
About TMTG
The mission of TMTG is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. TMTG is also launching Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.
Investor Relations Contact
Shannon Devine (MZ Group | Managing Director - MZ North America)
Email:
[email protected]
Media Contact
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c8f2402-0646-41da-8dd3-3556ca84e408
