Qube Research Takes Major Short Position in TMTG

Qube Research & Technologies has publicly disclosed a $105 million short position in Trump Media & Technology Group (TMTG), representing 2.53% of TMTG's free float, marking the first regulatory short disclosure for the company. This position is the hedge fund's second-largest short by percentage. The disclosure occurs amid a 44% decline in TMTG's share value this year, despite a significant rise last year, with the company currently valued at approximately $4.2 billion. The short interest in TMTG is reported at 4.9%, and the company has experienced increased volatility due in part to filing papers allowing significant share sales from Trump's trust. Despite the short position, TMTG shares saw a brief rally, increasing by 1.6% recently.