18-4-2025 – Trump Media & Technology Group (TMTG), the force behind the Truth Social platform, has sounded the alarm over what it deems dubious trading practices affecting its DJT stock, urging American regulators to intervene. In a sharply worded missive to the acting chairman of the US Securities and Exchange Commission (SEC), the company accused Qube, a UK-based financial entity, of engaging in covert short-selling that could be destabilising its share price. TMTG’s call for scrutiny underscores broader anxieties about market manipulation, as it grapples with mounting financial woes and a battered stock performance.
At the heart of TMTG’s grievance is Qube’s alleged failure to disclose its short positions adequately. The company contends that Qube revealed a six-million-share short position in DJT—valued at over $100 million—in German filings, yet neglected to report this to US authorities or other key jurisdictions. More alarmingly, TMTG claims Qube’s bet against DJT has since swelled to 11 million shares, intensifying fears of undisclosed short-selling exerting undue pressure on the stock. Such practices, if unchecked, could artificially depress share prices, a concern amplified by DJT’s 35% decline this year.
Yet, the spectre of short-selling is but one facet of TMTG’s predicament. The company is wrestling with profound financial turbulence, having posted a paltry $4 million in revenue last year against a staggering $400 million in losses. The stock’s woes cannot be attributed solely to speculative trading; they reflect deeper structural challenges, compounded by regulatory probes into potential misuse of Truth Social. These headwinds have cast a long shadow over TMTG’s ambitions, even as it ventures boldly into the cryptocurrency arena. A recent collaboration with Crypto.com for a prospective ETF project and a $25 million investment from market maker DWF Labs in World Liberty Financial, a Trump-branded DeFi platform, signal its determination to carve a niche in decentralised finance.
TMTG’s accusations against Qube raise legitimate questions about transparency in global markets, but they are unlikely to fully account for the company’s beleaguered state. With investor confidence waning and regulatory scrutiny intensifying, TMTG faces an uphill battle to demonstrate the viability of its business model, both in its core tech operations and its nascent crypto endeavours. Whether the SEC heeds the company’s plea for action remains uncertain, but TMTG’s future hinges on its ability to navigate these turbulent waters and deliver sustainable growth.
