Internet trolls Trump Media CEO Devin Nunes as he calls on Congress to investigate stock manipulation

NEW YORK CITY, NEW YORK: Devin Nunes, the former congressman turned CEO of Trump Media & Technology Group, intensified his campaign against perceived market manipulation of the company's stock this week.

In an escalating war of words, Nunes fired off a heated letter to top congressional leaders, demanding they launch an investigation into alleged "unlawful" trading activities surrounding shares of Truth Social's parent company, as reported by Quartz.

Devin Nunes calls on Congress to investigate alleged manipulation of Trump Media stocks 

Nunes contended that the company's appearance on the Nasdaq's "Reg SHO threshold list" since April 2 was "indicative of unlawful trading activity" involving the controversial practice of "naked" short-selling. He asserted that this illegal sale of shares without first borrowing them often allows "sophisticated market participants" to profit at the expense of retail investors.

"We assess there are strong indications of unlawful manipulation of DJT stock," Nunes wrote, requesting the investigation to determine if any laws, including RICO statutes and tax evasion laws, were violated "so that the perpetrators of any illegal activity can be held to account."

In his letter addressed to the chairs of the House Judiciary, Financial Services, Ways and Means, and Oversight and Reform committees, Nunes urged a comprehensive investigation.

He called for requests to be made for data from the Consolidated Audit Trail, the Financial Industry Regulatory Authority (FINRA), the Depository Trust and Clearing Corporation (DTCC), and reports from DTCC member firms reflecting total shares shorted since February 14.

Trump Media, the company responsible for launching former President Donald Trump’s Truth Social platform, made its debut on the Nasdaq stock exchange with the symbol DJT on March 26.

This move followed its merger with Digital World Acquisition Corporation, a special purpose acquisition company (SPAC).

Internet mocks Devin Nunes in wake of his demand for investigation

The Internet wasted no time in responding to Nunes's call for an investigation, with many users mocking the CEO and his company. One X user quipped, "People know Nunes is a clown in way, way over his empty head." Another remarked, "Chicken-sh*t Devin Nunes is determined to ride Trump stock all the way to the bottom. Good."

A third user chimed in, stating, "Always a conspiracy. He runs a failing business with no revenue. The dumbest of times." Meanwhile, another individual speculated, "Maybe it is tanking because clowns like this are running the company."

A fifth user bluntly asserted, "It's very simple. Its a failure and so is Nunes. He ran it. Take responsibility." Another commented, "The joke is on Devin... the stock has always been worthless."

A user wrote, "Nunes couldn't investigate anything even with the proof sitting in front of him." Someone else mentioned, "What an idiot. Does he not understand that after initial rush people saw the company lost 10s of millions of dollars with no hope of turning a profit. Paid huge salaries to the management and only had revenues of about 2-3 million."

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.