Trump Media & Technology Group has been embroiled in a series of controversies, leading to a fluctuating stock market performance. The company's stock, referred to as $DJT, experienced a notable decline of 2.7% in pre-market trading following speculations around its status as a 'meme' stock. This was compounded by a lawsuit filed by Donald Trump against the co-founders of Truth Social, a subsidiary of Trump Media, accusing them of mismanagement and causing delays in the platform's public launch. The lawsuit aims to force the co-founders to forfeit their shares and relinquish any claims to the company's leadership. Amidst these developments, Trump Media announced it was flush with $200 million in cash and debt-free, a statement that contrasts with the legal and financial challenges it faces. Furthermore, the company's financial stability was questioned when it was revealed that it had received loans from a trust run by a Russian associated with a shady Caribbean bank. The stock's volatility has attracted attention from short-sellers, with reports indicating that shorting $DJT stock could incur a fee of up to 500%. Despite the controversies and legal battles, Trump Media's stock saw a brief resurgence, resisting short-selling pressure.
DJT Stock Edges Up. Why Trump Media Resists Short Selling Pressure. https://t.co/481Qbcd4Ti
$.60c $boden but jeobs not finished. Let me make it perfectly clear. You guys see what happened when Truth Social hit the public market last week? Trump's base giga-pumped Truth Social $DJT from $1.7b to $7 BILLION in 5 TRADING DAYS. That's Truth Social, a Twitter clone… https://t.co/DEU2gMxo1f
and for a good reason Trump Media is the most expensive U.S. stock to short — by far https://t.co/uSW4Ci212B
"Almost 50% of the country voted for [Donald Trump]," says @TheJJKinahan as $DJT eclipses other meme stock crazes. "Because of that, there are going to be people who are going to buy this stock. They see it almost as a contribution to him running for president again." https://t.co/8ptNm8JYz6
The Big - and Very Expensive - Short. Trump Media is the priciest U.S. stock to sell short. https://t.co/1FmOMHJIWZ
Trump Media is the most expensive US stock to short — by far https://t.co/DGvftrT1uI
BREAKING: The Guardian claims Russian-American businessman, Anton Postolnikov, who is currently under federal investigation for insider trading and money laundering, made a sweetheart loan that Truth Social desperately needed. The critical part of the story isn’t just that…
$DJT “There is very little stock available to borrow to support new short selling — less than 50,000 shares — and with demand to short this stock extremely high, we are seeing stock-borrow rates at 500% to 600% fee levels,” Dusaniwsky https://t.co/C485UE3siX
Before Trump Media made its stock market debut, it was already a target for short-sellers betting on its collapse. As the company's share price continues its steep decline, the appetite to bet against the stock has grown. https://t.co/C38yKkftSK
As Trump mudslings in court with his Truth Social co-founders, @matt_levine finds their early business arrangements amusing. Like, be careful about spending more than $10, fly coach, and stay at Holiday Inn. You can be sure none of this applied to Trump: https://t.co/jfAQvA8r2f https://t.co/4BmL0wB9ID
Why shorting Trump’s DJT stock could cost you 500% https://t.co/IVIGf2BnnX
Why shorting Trump’s DJT stock could cost you a 500% fee https://t.co/PF9z5ZSr8n
$DJT: What Are Investors Actually Buying? last week, a small float and a lot of retail interest sent shares of trump's new media company soaring into meme stock territory its market cap peaked at over $10B, but has since dropped to ~$6.75B as @jason lays out, investors should… https://t.co/B05HjeUzCz
Trump's "Truth Social" has only been kept afloat by loans from a trust run by a Russian from St Petersburg that owns a shady Caribbean bank that specializes in processing online payments for the porn industry. https://t.co/LXXzJBkxCL
Trump is suing the founders of Truth Social. Doing business with him results in a clear inevitability: being exploited. With a history of avoiding accountability, lying, & cheating its no wonder he's iced all his connections. Everything Trump Touches Dies. https://t.co/b3j95A5kwi
.@JoeNBC: "Is this not the Trumpiest story of all time? This guy starts [Truth Social], goes public,...then he sues his co-founders... Everybody that goes into business with this guy regrets it because he's a terrible businessman, and he sues you." https://t.co/67adUOEnyV
Trump’s DJT stock trades at multiples that exceed the peak of the meme-stock era https://t.co/Fna5gbZzm8 $DJT $GME $NVDA $TSLA
Trump’s DJT stock trades at multiples that exceed the peak of the meme-stock era https://t.co/Tz3urxMDxE
#popcorn Trump Media sues its co-founders, accuses them of 'severe mismanagement' https://t.co/Tj7sYbOAj5
A man whose family is close to Putin and who is under criminal investigation in the US provided funds to Trump to keep Truth Social afloat. Investors should be fleeing Trump Media - we all know where this thing is going. It's another huge Trump scandal. https://t.co/5ThfPGZ0qv
Morning Joe on Trump suing co-founders of Truth: "This guy starts [Truth Social], goes public, then he sues his co-founders. Everybody that goes into business with this guy regrets it because he's a terrible businessman and he sues you." https://t.co/sS7HPV6hA8
YOUR REACTION: Former President Donald Trump has filed a lawsuit against the co-founders of Truth Social, accusing them of mismanagement that led to delays in the platform's public launch. Trump Media & Technology Group Corp. alleges that Wes Moss and Andy Litinsky's errors… https://t.co/yO7idPNnUI
.@JoeNBC: "Is this not the Trumpiest story of all time? This guy starts [Truth Social], goes public,...then he sues his co-founders.... Everybody that goes into business with this guy regrets it because he's a terrible businessman and he sues you." https://t.co/luoOiQ02Ox
DJT Stock Slips. Trump Is Suing Co-Founders of the Truth Social Parent. https://t.co/bylzWTorI2
Trump Media & Technology Group is attempting to force two of the company's co-founders to forfeit their shares and give up any claim to the company's leadership. https://t.co/O5iezW2vZr
Will Truth Social provide a financial bailout for Trump? https://t.co/sr46ZN8d3F
$DJT $RUM Today Bloomberg reported Donald Trump lawsuit vs Truth Social cofounders, among the comments... "Moss and Litinsky caused TMTG to enter a commercially unreasonable relationship with a cloud services provider, who charged exorbiant rates for substandard or non-existent… https://t.co/WQxEaiKeEJ
Shares of Trump Media Jump After Company Says It Is Flush $200 Million in Cash and Debt-Free! (Read more: https://t.co/8tXMYxNWld) [DID PEOPLE FORGET THAT TRUTH SOCIAL WENT PUBLIC AND THOSE FUNDS WERE LOCKED UP UNTIL THE MERGER? “We are excited to be operating as a public… https://t.co/os6E1XhnQ6
“.. It was a no-brainer. You buy the stock, wait for Trump's fan base to hear about it, and enjoy your profit,” Al Shalloudi said. @reuters $DJT https://t.co/GCsqNgMptf https://t.co/C8ylb11HC7
$DJT (-2.7% pre) Trump-and-dump: Speculators bet on Truth Social 'meme' stock - Reuters https://t.co/BQJDNVQMab