{"id":2229321,"date":"2024-04-24T15:50:02","date_gmt":"2024-04-24T19:50:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ceo-of-trumps-truth-social-alleges-unlawful-manipulation-of-stock-price-demands-congressional-investigation\/"},"modified":"2024-04-24T15:56:29","modified_gmt":"2024-04-24T19:56:29","slug":"ceo-of-trumps-truth-social-alleges-unlawful-manipulation-of-stock-price-demands-congressional-investigation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ceo-of-trumps-truth-social-alleges-unlawful-manipulation-of-stock-price-demands-congressional-investigation\/","title":{"rendered":"CEO of Trump&#8217;s Truth Social Accuses Stock Price Manipulation, Calls for Congressional Probe"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fceo-of-trumps-truth-social-alleges-unlawful-manipulation-of-stock-price-demands-congressional-investigation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2229321&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Congress urged to investigate potential\u2062 stock price\u2062 manipulation at Trump Media. CEO Devin Nunes raises \u200bconcerns over unusual trading activities and calls for accountability. Allegations of naked short selling prompt demand for inquiry into <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-looks-to-joint-technology-and-trade-council-with-eu-to-counter-china-aggression-in-tech-space\/\" title=\"Biden Administration Looks To Joint \u2018Technology and Trade Council\u2019 With EU To Counter China Aggression In Tech Space\">market practices<\/a>. Stakeholders \u2064advocate for transparency and regulatory \u200bmeasures to safeguard\u2062 investors and ensure fair trading \u2064practices. Congress is urged\u2063 to\u2063 investigate potential stock price \u200bmanipulation at Trump Media by CEO Devin Nunes. Concerns over unusual trading activities and naked short selling prompt a call for accountability. Stakeholders push for transparency and regulatory measures to protect investors and uphold\u2063 fair trading practices.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/news\/\">  News <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/russdavis\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/russdavis\/%20\"><span>Jack Davis<\/span><\/a> <\/span> <span>   April 24, 2024 at 11:09am <\/span> <\/span>  <\/header>\n<section>\n<p>Congress is being asked to investigate what Trump Media &#038; Technology Group CEO Devin Nunes has called the \u201cpotential manipulation\u201d of its stock price.<\/p>\n<p>Trump Media had a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-legacy-medias-fact-free-relationship-with-the-facts\/\" title=\"The Legacy Media\u2019s Fact-Free Relationship With The Facts\">highly successful debut<\/a> in March, but since then has taken a severe dip, going from a high of about $79 per share on its first day of trading to $23 last week, according to <a href=\"https:\/\/thehill.com\/business\/4617730-truth-social-owner-asks-congress-to-investigate-potential-manipulation-of-share-price\/\" target=\"_blank\" rel=\"noopener\">The Hill<\/a>.<\/p>\n<p>On Wednesday, Trump Media\u2019s stock price was about $32.<\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/trumps-truth-social-announces-live-tv-streaming-platform-content-cancelled-suppressed\/\" target=\"_blank\" rel=\"noopener\">Nunes<\/a>, a former Republican member of Congress, sent a letter to the chairs of the House Judiciary, Oversight, Financial Services and Ways and Means committees saying something was not right.<\/p>\n<p>The letter, which was <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1849635\/000114036124021595\/ny20026576x11_ex99-1.htm\" target=\"_blank\" rel=\"noopener\">filed<\/a> with the Securities and Exchange Commission, described the stock price swings as \u201can urgent matter concerning the potential manipulation of the stock of Trump Media &#038; Technology Group Corp.\u201d<\/p>\n<p>\u201cSince April 2, 2024, DJT has appeared every day on Nasdaq\u2019s \u2018Reg SHO threshold list,\u2019 which is indicative of unlawful trading activity. This is particularly troubling given that \u2018naked\u2019 short selling often entails sophisticated market participants profiting at the expense of retail investors,\u201d Nunes wrote.<\/p>\n<p>\u201cReports indicate that, as of April 3, 2024, DJT was the single most expensive stock to short in U.S. markets by a significant margin, meaning that brokers have a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gm-to-invest-760-million-to-shift-ohio-plant-to-ev-part-production\/\" title=\"GM to invest 0 million to shift Ohio plant to EV-part production\">significant financial incentive<\/a> to lend non-existent shares,\u201d Nunes wrote, noting that four companies make up 60 percent of the shares in Trump Media that have been traded.<\/p>\n<p>\u201cOverall, we assess there are strong indications of unlawful manipulation of DJT stock,\u201d Nunes wrote.<\/p>\n<p>\u201cAs such, I respectfully request that you open an investigation of anomalous trading of DJT to determine its extent and purpose, and whether any laws including RICO statutes and tax evasion laws were violated, so that the perpetrators of any illegal activity can be held to account,\u201d he wrote.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Should a congressional investigation be launched?<\/p>\n<\/p><\/div>\n<p>\u201cSuch an inquiry is needed to protect shareholders, including TMTG\u2019s retail investors,\u201d Nunes wrote, noting that an investigation could also show the need for policy changes that include \u201cstiffening penalties for illegal naked short sellers.\u201d<\/p>\n<p>Nunes noted that a December letter from 74 members of Congress suggests that what is happening to Trump Media is not a unique case.<\/p>\n<p>A letter to the CEO of Nasdaq, the exchange where Trump media stock is traded, was also attached to an SEC filing. The letter made similar points to the letter to Congress, noting that Nunes is concerned with \u201cunlawful trading activity.\u201d<\/p>\n<p>Citadel Securities, one company mentioned as a major mover of Trump Media <a href=\"https:\/\/www.westernjournal.com\/trump-media-company-hits-20-media-outlets-1-5-billion-lawsuit\/\" target=\"_blank\" rel=\"noopener\">shares<\/a>, denied doing anything illegal in a statement to <a href=\"https:\/\/www.cnbc.com\/2024\/04\/19\/citadel-securities-blasts-trump-media-ceo-over-djt-short-sale-letter.html\" target=\"_blank\" rel=\"noopener\">CNBC<\/a> last week.<\/p>\n<p>\u201cDevin Nunes is the proverbial loser who tries to blame \u2018naked short selling\u2019 for his\u00a0falling stock price,\u201d a representative of Citadel Securities said.<\/p>\n<p>\u201cIf he [Nunes] worked for Citadel Securities, we would fire him, as ability and integrity are at the center of everything we do,\u201d the representative said.<\/p>\n<p>A representative of <a href=\"https:\/\/www.westernjournal.com\/trump-media-company-stock-price-skyrockets-first-day-public-trading\/\" target=\"_blank\" rel=\"noopener\">Trump Media<\/a> in turn attacked Citadel Securities.<\/p>\n<p>\u201cCitadel Securities, a corporate behemoth that has been fined and censured for an incredibly wide range of offenses including issues related to naked short selling and is world famous for screwing over everyday retail investors at the behest of other corporations, is the last company on earth that should lecture anyone on \u2018integrity,\u2019\u201d she said.<\/p>\n<p>\u201cRather than support our common sense efforts to promote transparency and compliance, Citadel Securities bizarrely targeted our CEO with an unhinged attack,\u201d Trump Media said in an SEC filing on Friday.<\/p>\n<hr>\n<div>\n<p><b><i>A Note from Our Deputy Managing Editor:<\/i><\/b><\/p>\n<p><i><span>I heard a chilling comment the other day: \u201cWe don\u2019t even know if an election will be held in 2024.\u201d <\/span><\/i><\/p>\n<p><i><span>That wasn\u2019t said by a conspiracy theorist or a doomsday prophet. No, former U.S. national security advisor Lt. Gen. Michael Flynn said that to the founder of The Western Journal, Floyd Brown.<\/span><\/i><\/p>\n<p><i><span>Gen. Flynn\u2019s warning means that the 2024 election is the most important election for every single living American. If we lose this one to the wealthy elites who hate us, hate God, and hate what America stands for, we can only assume that 248 years of American history and the values we hold dear to our hearts may soon vanish.<\/span><\/i><\/p>\n<p><i><span>The end game is here, and as Benjamin Franklin said, \u201cWe must all hang together, or assuredly we shall all hang separately.\u201d<\/span><\/i><\/p>\n<p><i><span>All of this means that <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>without you<\/span><\/i><\/a><i><span>, it\u2019s over. We have the platform, the journalists, and the experience to fight back hard, but Big Tech is strangling us through advertising blacklists, shadow bans, and algorithms. Did you know that we\u2019ve been blacklisted by 90% of advertisers? Without direct support from you, our readers, we can\u2019t continue the fight.<\/span><\/i><\/p>\n<p><i><span>Can we count on <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>your support<\/span><\/i><\/a><i><span>? It may not seem like much, but a <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Western Journal Membership<\/span><\/i><\/a><i><span>  can make all the difference in the world because when you support us directly, you cut Big Tech out of the picture. They lose control. <\/span><\/i><\/p>\n<p><i><span>A monthly Western Journal Membership costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content \u2014 news, commentary, and premium articles. You\u2019ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/span><\/i><\/p>\n<p><i><span>We are literally counting on you because without our members, The Western Journal would cease to exist. Will you <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  in the fight? <\/span><\/i><\/p>\n<p><i><span>Sincerely,<\/span><\/i><\/p>\n<p><i><span>Josh Manning<\/span><\/i><\/p>\n<p><i><span>Deputy Managing Editor<\/span><\/i><\/p>\n<p><i><span>The Western Journal<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-44685\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/russdavis\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-44685\">Summary<\/label><label for=\"more-info-tab-radio-44685\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-44685\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-44685\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Jack Davis is a freelance writer who joined The Western Journal in July 2015 and chronicled the campaign that saw President Donald Trump elected. Since then, he has written extensively for The Western Journal on the Trump administration as well as foreign policy and military issues.<\/p>\n<\/p><\/div>\n<div>\n<p>  Jack Davis is a freelance writer who joined The Western Journal in July 2015 and chronicled the campaign that saw President Donald Trump elected. Since then, he has written extensively for The Western Journal on the Trump administration as well as foreign policy and military issues. <br \/> Jack can be reached at jackwritings1@gmail.com. <\/p>\n<p>  Location <\/p>\n<p>  New York City <\/p>\n<p>  Languages Spoken <\/p>\n<p>  English <\/p>\n<p>  Topics of Expertise <\/p>\n<p>  Politics, Foreign Policy, Military &#038; Defense Issues <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump Media &amp; Technology Group CEO, Devin Nunes, urges Congress to probe alleged stock price manipulation. The company, which had a strong debut in March, has seen a significant decline, prompting concerns about market activities<\/p>\n","protected":false},"author":661,"featured_media":2229322,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/04\/Truth-Social.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2229321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/04\/Truth-Social.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2229321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2229321"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2229321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2229322"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2229321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2229321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2229321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}