Roaring Donald: Trump’s Truth Social emerges as a meme stock darling

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Financial Times 14h ago

Roaring Donald: Trump’s Truth Social emerges as a meme stock darling - Financial Times

Quick Summary:

The ability to borrow stock is very thin,” said Matthew Unterman, managing director at S3 Partners, a financial data specialist. “There is the possibility for a short squeeze if the price rises but so far shorts are holding the line.

Bets on a fall in TMTG’s shares have remained roughly steady with 17mn shares sold short — that is, used in trades that stand to profit from a fall in the share price.

Finding shares to borrow for short trades has been made harder by the small number of large shareholders, who are more likely to lend their holdings.“Its longs, not short sellers, driving this market.