Congress is being asked to investigate what Trump Media & Technology Group CEO Devin Nunes has called the “potential manipulation” of its stock price.
Trump Media had a highly successful debut in March, but since then has taken a severe dip, going from a high of about $79 per share on its first day of trading to $23 last week, according to The Hill.
On Wednesday, Trump Media’s stock price was about $32.
Nunes, a former Republican member of Congress, sent a letter to the chairs of the House Judiciary, Oversight, Financial Services and Ways and Means committees saying something was not right.
The letter, which was filed with the Securities and Exchange Commission, described the stock price swings as “an urgent matter concerning the
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