Big changes are now underway to the stock market regarding naked short selling as Trump and Vance take the presidential office.
Several developments involving DJT stock, MMTLP, and Overstock, have prompted officials to shed light on illegal short selling manipulation.
In Trump’s address at the Bitcoin 2024 conference in Nashville, Tennessee, he stated: “On day one, I will fire Gary Gensler.”
Investors have petitioned to fire the SEC Chair since 2022 following the events of the ‘meme stock frenzy’ when hedge funds like Citadel Securities were able to halt the markets during rallies and make their money back on the way down.
“On Thursday morning, Robinhood — the commission-free stock trading app used by small investors — suddenly shut down buys on $GME and a few other stocks that were under siege.
Only sell orders went through, reversing the trend, driving the stock prices back down and shoring up the hedge funds’ sinking ships.
Remember, when the stock price goes down, the people who hold the “shorts” make money.
This started a chain reaction.
Other retail trading platforms like E*Trade and TD AmeriTrade began freezing the stock for individual investors.
But hedge funds own supercomputers.
They have direct access to stock markets.
While small investors were frozen the hedge funds traded massive positions and quickly earned back the billions in losses from the past few days,” said Patrick McConlogue, an ex-Citadel data scientist at the time.
Earlier this year, Truth Social, Trump’s social media site publicly scrutinized Ken Griffin’s Citadel Securities for naked short selling the market.
“Rather than support our common sense efforts to promote transparency and compliance, Citadel Securities bizarrely targeted our CEO with an unhinged attack. Here’s our response:
“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, and is world famous for screwing over everyday retail investors at the behest of other corporations, is the last company on earth that should lecture anyone on ‘integrity.’”
JD Vance, who is now the U.S. Vice President, issued a letter to Gary Gensler regarding MMTLP and its hundreds of millions alleged counterfeit shares.
“President Trump’s vision is so simple and yet so powerful. We’re done, ladies and gentlemen, catering to Wall Street. We’ll commit to the working man,” Vance stated separately.
Devin Nunes, CEO of Truth Social has also spoken out against Citadel’s Ken Griffin stating:
“You [Ken Griffin] aren’t going to screw with us, and we are going to come after you.”
Patrick Byrne, former CEO of Overstock, previously shared that if Donald Trump takes office, he will have a spotlight in the new administration to prevent “counterfeit shares” by addressing stock settlement issues and eliminating bad actors in the stock market.
With Donald Trump back in office, it’s clear some new change is bound to take place regarding to the heavy short selling manipulation in the markets.
But I’m curious to know what you think — leave your thoughts below.
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Leave your thoughts below.
Don’t care for Trump, but care for Ken Griffin even less. I look forward to a day when he’s brought before a jury of retail investors.
The day is coming.
This should be no statute of limitation on fraud!
There should be a “claw back” the entire paper trail and take all the money back and reset/refund everybody’s accounts to that day.
This will stop this practice and soon if you are wanting to try any other trading schemes in the future thatresult in milking investors out of the hard earned money and lifetime savings, the same will happen to them!
Read Daily Market News – https://franknez.com/ for more news and updates.