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Traders Are Betting Millions That Trump Media 'Meme Stock' Will Tumble
Many investors are lining up to bet on the collapse of former President Donald J. Trump's social media company, Trump Media & Technology Group Corp., which made its stock market debut last week under the ticker "DJT." The stock has been called the "mother of all meme stocks" since it is highly v...
The New York Times reports: Trump Media is the most "shorted" special purpose acquisition vehicle in the country, according to the financial data company S3 Partners. The demand to short Trump Media, the parent company of the social media platform Truth Social, is so great that stock lenders can charge enormous fees, making it hard for short-sellers to turn a profit unless the shares fall significantly. Big asset managers like BlackRock, Vanguard and State Street, which regularly lend out shares, are not major holders of Trump Media, further crimping the supply.
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