Former president’s social-media company sees significant gains after blaming naked short selling
- Trump Media & Technology Group Corp. stock price has more than doubled since declaring war against short sellers
- Trump received an additional earnout of shares worth $1.8 billion
- Devin Nunes, CEO of Trump Media & Technology Group, accuses market participants of engaging in ‘naked short selling’
- Nunes points the finger at Citadel Securities, Virtu Financial, G1 Execution Services, and Jane Street Capital
- Citadel dismisses Nunes as a ‘loser’ and Nunes fires back with criticism
Donald Trump’s social-media company, Trump Media & Technology Group Corp., has experienced a remarkable turnaround in the stock market. After attributing its earlier share price woes to naked short selling, the company declared war against short sellers and has seen its stock price more than double. This surge in stock price has resulted in Trump receiving an additional earnout of shares worth $1.8 billion, increasing his stake in the company to about $5.5 billion. The CEO of Trump Media & Technology Group, Devin Nunes, has been actively accusing market participants of engaging in ‘naked short selling’ and specifically pointing fingers at Citadel Securities, Virtu Financial, G1 Execution Services, and Jane Street Capital. This has led to a heated exchange between Nunes and Citadel, with the latter dismissing Nunes as a ‘loser’ and Nunes retaliating with criticism.
Factuality Level: 2
Factuality Justification: The article contains biased information, sensationalism, and opinion masquerading as fact. It focuses more on the conflict between Trump’s company and short sellers rather than providing a balanced and objective view of the situation. The article also includes unnecessary background information and details that are tangential to the main topic, making it less informative and more focused on drama.
Noise Level: 2
Noise Justification: The article provides a detailed analysis of the battle against short sellers involving Trump Media & Technology Group Corp. It includes information on stock price movements, accusations of naked short selling, historical context, and responses from involved parties. The article stays on topic and supports its claims with examples and quotes. However, it contains some repetitive information and biased language towards certain individuals.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses the stock market performance of Trump Media & Technology Group Corp. and the impact on Donald Trump’s personal stake in the company.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article primarily focuses on the stock market performance of a company and the actions taken by its CEO to combat short selling. There is no mention of any extreme events or their impact.
Public Companies: Trump Media & Technology Group Corp. (DJT), Citadel Securities (Not available), Virtu Financial (VIRT), G1 Execution Services (Not available), Jane Street Capital (Not available)
Key People: Donald Trump (Former President), Devin Nunes (Chief Executive of Trump Media & Technology Group Corp.), Patrick Byrne (Former Overstock Chief Executive), Ken Griffin (Billionaire investor and Republican megadonor)
Reported publicly:
www.marketwatch.com 
