Trump Media Urges SEC Probe of Short Selling

Trump Media & Technology Group (TMTG), owner of Truth Social, has asked the U.S. Securities and Exchange Commission (SEC) to investigate alleged illegal short selling of its DJT stock by UK-based Qube Research & Technologies. TMTG alleges Qube disclosed a $105 million short position, which has reportedly grown to 11 million shares, in Germany but not in other jurisdictions, raising market manipulation concerns. The request comes as TMTG faces a 35% stock price decline this year, reported revenue under $4 million for 2024, and $400 million in operating losses. TMTG is also reportedly under investigation for its business operations and potential misuse of the Truth Social platform, while pursuing crypto-related partnerships. Qube has responded that its short position is driven by quantitative models, not company fundamentals, but has not fully addressed the allegations. The SEC has not announced any formal investigation.