US Stock Reports, Quotes and News
Trump Media & Technology Group (DJT) sent a letter to Nasdaq\’s CEO on Thursday warning of \”potential market manipulation\” of the company\’s stock via the \”naked\” short selling of shares.
(Reuters) – Shares of Donald Trump\’s media and technology company were up more than 3% on Friday after it asked the Nasdaq exchange to help prevent \”naked\” short-selling in its shares.
Trump Media & Technology Group closed down 18.4% at $26.61 as more of the euphoria that surrounded the stock fades. It\’s a sharp comedown since nearing $80 after the owner of Truth Social merged with a shell company to get its stock trading on the Nasdaq under the symbol \”DJT,\” for Trump\’s initials.
Rate futures markets now show investors see a first rate cut as most likely occurring at the Fed\’s Sept. 17-18 meeting after data showed inflation through the entire first quarter of 2024 was stiffer than expected and had demonstrably slowed progress on bringing it back to the Fed\’s 2% target.