Shares of Trump Media & Technology Group declined as much as 4% during Monday's premarket trade as its debut rally seemed to have subsided after the company alerted Nasdaq Inc. of what Chief Executive Officer Devin Nunes described as "naked" short selling that is driving the stock down and urged the exchange "to foster transparency" by ensuring brokerages comply with regulations.
Billionaire Ken Griffin's Citadel Securities slammed Trump Media's boss as a "proverbial loser" in a statement to the Financial Times after the media group mentioned the Miami-based firm alongside other major market companies in his letter. "Citadel Securities, a corporate behemoth that has been fined and censured for an incredibly wide range of offenses including issues related to naked short selling," Trump Media later fired back.
The company's shares were down 4.21% to trade at $34.85 apiece at 7:24 am ET.
