“For threshold securities such as DJT, SEC guidance clearly states that the only way to establish 'reasonable grounds' for short sales is if the broker-dealer pre-borrows the securities; moreover, 'a broker-dealer may not re-apply a locate for intra-day buy to cover trades. '”

Shares of Trump Media fell after the company reported a net loss of $327.6 million on just $770,500 in revenue in the first quarter of 2024. Trump Media's majority shareholder is former President Donald Trump. The company, which trades under the DJT ticker, went public in March through a merger with a shell company.

(Discuss) Trump Media & Technology Group Corp. (TMTG) is an American media and technology company majority-owned by former U.S. president Donald Trump. Founded by Andy Litinsky and Wes Moss in 2021, it became a public company on March 26, 2024 after merging with Digital World Acquisition Corp.