Trump Media & Technology Group, the parent company of Truth Social owned by former US president Donald Trump, has raised concerns about suspicious trading activity by London-based hedge fund Qube Research & Technologies. Qube recently disclosed a significant short position in Trump Media, indicating a bet against the company’s stock by selling borrowed shares in anticipation of a price drop. Trump Media has called for an investigation by the US Securities and Exchange Commission (SEC), suggesting potential illegal naked short selling of its shares due to a history of suspicious trading.

Despite these challenges, Trump Media’s stock rose by 7% in New York following the disclosure. The company is expanding beyond Truth Social with new investment accounts aligned with the Trump administration’s agenda themes like “Made in America” and “Energy Independence.” Qube, known for its data, research, and trading expertise, has quickly grown to manage approximately $23 billion in assets, ranking it among the top 1% of hedge funds. The hedge fund also holds short positions in various UK-listed companies besides Trump Media.

Qube, led by former Credit Suisse employees Morlat and Laizet, operates globally with offices in Paris, Hong Kong, Singapore, and Dubai. Despite its rapid growth and unique corporate culture, Qube’s short position in Trump Media has raised eyebrows in the investment community. The unfolding situation between Trump Media and Qube highlights the complex dynamics of the financial markets and the potential implications of short-selling practices.