Trump Media & Technology Group CEO Devin Nunes, who is a former congressman, has sent another letter to Washington lawmakers alleging stock manipulation.
“The apparent anomalies surrounding the trading of (Trump Media) have become chronic and alarming to TMTG,” Nunes writes. “In the last 30 trading days, an extraordinary volume of DJT shares traded have been shorts, leading to an astonishing quantity of FTDs (failure to deliver). In fact, recently published SEC data indicate that FTDs exceeded 1 million DJT shares on eleven separate trading days between April 9, 2024, and April 30, 2024, with a peak of over 2.3 million FTDs on April 29, 2024, alone. Data made available to us suggest that serious anomalies may have occurred on that date, as well as on April 30 and May 1.”
The three letters have been sent to Republican lawmakers Jim Jordan, Patrick McHenry, Jason Smith and James Comer. Jordan is chairman of the House Judiciary Committee, McHenry chairs the Committee on Financial Services, and Smith and Comer are chairmen of the Comittee on Ways and Means, and the Committee on Oversight and Reform, respectively.
Each is a vocal supporter of Donald Trump, whose namesake company went public via a SPAC merger in March.
It is unclear whether the congressmen responded to the first two letters sent by Nunes, covering essentially the same allegations as the most recent correspondence.
Trump Media shares, which list on the Nasdaq under ticker DJT, were down 1.39% at $51.89 in early afternoon trading and way off their 52-week high of $79.38. Read more.
