00:00It's Benzinga, and here's what's on the block.
00:02Trump Media CEO Devin Nunes said he will do whatever it takes to defend retail investors
00:07in the company from possible illegal short-selling. Trump Media's stock has sharply fallen from its
00:12debut price, lowering the value of former President Trump's majority stake. Nunes warned
00:16Nasdaq about the potential for naked short-selling of Trump Media stock. Naked short-selling involves
00:21selling shares that have not been borrowed, betting the price will fall. Trump Media
00:25appeared on an SEC list that can indicate failed trades due to naked short-selling.
00:30However, the SEC says naked short-selling is not inherently illegal,
00:33and the list is not proof of wrongdoing. For all things money, visit Benzinga.com.
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