Apparently unaware that publicly traded securities have an entire independent regulatory body to investigate Securities & Exchanges, Trump Media CEO Devin Nunes decided to literally call for a federal investigation into the short sellers of his company’s explosively overpriced stock.
Noting that four trading houses have taken significant negative positions in the DJT stock–which is massively overvalued with a current market cap of $4.9 billion on annual revenues of $4 million and a net operating loss of $50 million–Nunes asserts that it must be a conspiracy to undervalue the stock, not free market capitalists banking on the company’s inevitable failure.
“Overall, we assess there are strong indications of unlawful manipulation of DJT stock,” Nunes wrote in a letter sent to GOP chums Jim Jordan, Jamie Comer, Jason Smith and Keebler elf Patrick McHenry, the respective chairs of the House Judiciary, Oversight, Ways & Means, and Financial Services Committees. “As such, I respectfully request that you open an investigation of anomalous trading of DJT to determine its extent and purpose, and whether any laws including RICO statutes and tax evasion laws were violated, so that the perpetrators of any illegal activity can be held to account.”