Trump Media and Technology Group Call for SEC Investigation into Qube's Participation in Illegal Short Selling of DJT Stocks

According to Golden Finance, Truth Social's parent company, Trump Media&Technology Group, has accused UK based Qube of short selling DJT stocks without properly disclosing its holdings. In an open letter to Mark Uyeda, acting chairman of the US Securities and Exchange Commission, Trump Media&Technology Group accused the UK company Qube of potentially engaging in "illegal short selling of DJT stocks". TMTG accused Qube of disclosing a short position of 6 million shares worth $105 million in Germany on April 10, but did not report the position to the regulatory authorities in its jurisdiction. Trump media also cited third-party sources as saying that Qube's holdings almost doubled thereafter, reaching 11 million shares. TMTG stated in the letter: "We urge you to immediately investigate this suspicious transaction and report the investigation results to TMTG and any relevant civil and criminal authorities." According to TMTG's financial disclosure, the company had revenue of less than $4 million and an operating loss of $400 million last year. The closing price of TMTG stock on the day was $22.04, down 35% from the beginning of the year.