Trump Media alerts Nasdaq to potential market manipulation from 'naked' short selling of DJT stock
Trump Media alerts Nasdaq to potential market manipulation from 'naked' short selling of DJT stock
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If a $30 million business get valued at over a billion dollars, I'd short sell it too. Trump probably did too.
Trump is supposedly banned from selling it for six months. Do I think he has a way around that, yes.
He'll just have someone do it for him.
Literally can't happen.
Well the obvious one is the only thing holding to that six month block is the board of the company.
I don't know if he can do antics like lending them to a shell company of his and have them do things with them.
SEC rules for insiders are pretty strict. And he already made billions on the IPO. Even with the stock price crashing he's still making a bundle, so I doubt there's any reason for him to take a risk on illegal trading.
Did he make billions? I know the media reported that his net worth had jumped billions from the increased valuation of the stock.
The more honest media also reported that he was unable to take advantage of that valuation because he couldnt sell any of the stock.
It is true that he doesn't realize that gain until he sells. Which has to be disclosed ahead of time. Which could negatively impact the price.
From what I understand; he can try to get a loan against the stock, but it is apparently unlikely any bank would make those loans given hes not allowed to sell the stock for another five months now.
It's not a law that says he can't trade his shares for six months. It was part of the deal going "public" (they loopholed out of having an IPO). That deal also can be changed by the board of directors. That board is just sycophants like Devin Nunes and one of his sons he doesn't hate.
Yeah I said that earlier in this comment chain.
Reason? How about stupidity as a reason?