Truth Social is moving full steam ahead despite short-sellers

by Hailey Gomez
Photo: Alamy 2JW14W7 Truth Social app application is seen on an iPhone in this photo illustration in Warsaw, Poland on 01 September, 2022. (Photo by Jaap Arriens / Sipa US)

Photo Alamy

President Donald Trump’s Truth Social revealed Monday that it will continue with its streaming service plans. This comes as the company works to stop people from short-selling their stocks.

During an exclusive interview with Just the News, the company said that the platform is a “beachhead that will be supported by streaming.”

The company, which is owned by Trump Media & Technology Group, is planning to hold media such as documentaries, shows, and television networks that have been threatened with cancellation over the bias within the entertainment industry, calling the development a “front-burner issue,” the outlet reported.

Additionally, the company revealed to the outlet that the platform is “actively exploring” other avenues to grow their brand through possible mergers and acquisitions in order to both “improve the user experience and to strengthen our position so the platform can’t be canceled,” according to Just the News.

Within early June, Trump Media & Technology Group CEO Devin Nunes sent a follow-up letter to the Nasdaq Chair and CEO Adena Friedman outlining his concerns of “serious anomalies surrounding the trading of DJT stock.” According to Nunes, multiple failures to deliver (FTDs) have pushed the stock to appear on the exchange’s threshold list.

Nunes also wrote to the commissioner of the Louisiana Office of Financial Institutions, Scott Jolly, in May urging Louisiana officials to investigate the alleged manipulation of DJT stocks.

“The anomalies surrounding the trading of DJT suggest the possibility of unlawful collusion among multiple market counterparties including, without limitation: prime brokers, clearing brokers, executing brokers, options market makers, hedge funds, custodian banks, and other fiduciaries.  Such collusion would violate not only federal law, but also Louisiana law,” Nunes wrote.

You may also like