Trump Media Calls for SEC Investigation

Trump Media & Technology Group has formally requested the US Securities and Exchange Commission (SEC) to look into what it describes as potential manipulation of its DJT stock. The company's concerns were outlined in a memo dispatched on Thursday, highlighting trades associated with Qube Research & Technologies, a hedge fund based in the UK.

Details of the Suspicious Trades

"Qube disclosed a nearly six-million-share short position," the memo revealed, noting that this disclosure was made exclusively in Germany. Trump Media has raised questions about the timing and execution of these trades, citing a lack of transparency.

Steady Short Interest Raises Questions

Despite Qube's disclosure, the short interest in DJT stock has remained consistent since late March. The company also pointed to DJT's prolonged appearance on Nasdaq’s threshold list as a possible red flag.

Call for Transparency and Efficiency

"We urge you to immediately investigate this suspicious trading and report your findings back to TMTG and any relevant civil and criminal authorities," the memo stated. It emphasized the need for American equities exchanges to operate with "full transparency and maximum efficiency," contrasting the current situation with an "opaque free-for-all reminiscent of a third-world casino."