Trump Media & Technology Group is asking lawmakers to investigate what it claims is 'potential manipulation' of its stock, which trades under the ticker DJT – the same as the initials of former President Donald Trump. In an April 23 letter, Trump Media CEO Devin Nunes, a former Republican congressman from California, asked several House committees to 'open an investigation of anomalous trading of DJT.
If the stock price tumbles, the trader then purchases the shares at the lower price and returns the stock to the trading firm from which they originally borrowed the shares. That enables the traders to pocket the difference between the borrowed stock price and the sale price. Such trading is legal. But 'naked' short selling skips the step where the trader borrows shares of the stock, meaning that the investor sells shares they don't own.