Trump Media & Technology Group Corp. (NASDAQ:DJT) shares are trading higher on Friday.
In an exchange filing, the company said it sent a letter to Nasdaq regarding suspected short-selling activity in its shares.
“As you know, “naked” short selling—selling shares of a stock without first borrowing the shares deemed difficult to locate—is generally illegal pursuant to Securities and Exchange Commission Regulation SHO,” Chief Executive Devin Nunes said in the letter.
As of April 17, Former President Donald Trump’s Trump Media & Technology Group, behind the Truth Social platform, appears on Nasdaq’s “Reg SHO threshold list,” which indicates unlawful trading activity.