The post Trump stock shorted heavily day before assassination attempt appeared on BitcoinEthereumNews.com.

After an assassination attempt on former President Donald Trump, which sent shockwaves through the U.S. political landscape, Trump Media (NASDAQ: DJT) shares surged more than 60% in the early trading hour on Monday before retracing by 20% to the valuation of $36.89 at the latest close on July 16. However, a fact bound to raise a few questions is that short positions against Truth Social stock doubled between July 1 and July 12, going from 7 to 15 million shares, in what was a record of shares shorted for DJT stock since its trading debut. This surge indicates that individuals or large organizations anticipated a significant drop in the stock’s value by July 15, a scenario that would likely have materialized had President Trump died in Pennsylvania. DJT stock short-interest history. Source: Fintel The potential need to cover the losses from short positions leading up to July 12 could have provided an additional boost in the price of DJT stock. A pattern raises concerns that some individuals may have had foreknowledge of a plot against former President Trump’s life and sought to profit from the expected turmoil.  Short interest in DJT stock Looking at the current level of DJT stock short-interest, it has subsided substantially. It fell to 11.27%, with 5,219,586 shares being shorted at an average coverage of less than one day. DJT stock short interest level. Source: Fintel This means that the stock is no longer experiencing high short interest, as it did last week. Previous occurrences of short interest before major events A similar occurrence was observed on September 11, 2001, when substantial bets were placed against the stocks of major airlines, American Airlines (NASDAQ: AAL) and United Airlines (NASDAQ: UAL), the day before the attacks.  Subsequent investigations revealed that a single entity and an insider newsletter…

---

Filed under: News - @ July 17, 2024 1:26 pm