Where is the SEC? Are they only worried about ESG scores now?
Yea. I bought 60 shares of DJT at 62. It’s now trading at 35.67. I got screwed.
I’m not a stock guy. It appears the ‘short sellers’ are creating a buy/sell frenzy to drive down the stock price so they can then sell their short positions at a profit while undermining the company’s value. Do I have that right?
The SEC won’t do it; they are no different than the DOJ. Just a political arm.
States have security boards with overlapping jurisdiction. They’ll have much better luck prosecuting these crooks under state law in Texas or Florida.
Could see this coming. Naked short selling orchestrated by antiTrump traders. Even without that, never buy an IPO during its opening bubble. Maybe Trumpers can pump it back up like the jokers did with AMC and the other meme stocks a couple years ago.
“Reports indicate that, as of April 3, 2024, DJT was the single most expensive stock to short in U.S. markets by a significant margin”
I believe that it is the single most expensive stock to short in US market history.
The borrow fees hit 500 or 600% APR-
by contrast-Countrywide Financial fees were 150-200% when it was obviously going bankrupt.
This is caused by the demand to borrow shares AND shareholders notifying their brokers to not lend their shares out.
Folks that own the stock should tell their brokers either to not lend it out or credit their account with the borrow fees when it is lent out.