Post #26100 by AlphaWolf on the US Policy board

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Former President Donald Trump lashed out at Nasdaq over a routine trading halt in shares of his social media company and even threatened to move the listing to the New York Stock Exchange.

“Why is NASDAQ halting the sale of DJT?” Trump said Friday on Truth Social, referring to the ticker symbol of Truth Social owner Trump Media & Technology Group. “What right do they have to do this? They have done it twice today. What’s going on?”

Trump suggested Nasdaq was “taking orders from the SEC,” an agency he accused of delaying Trump Media’s merger “for political reasons.”

A Nasdaq spokesperson told CNN on Saturday that “single-stock trading pauses, also known as ‘Limit up/Limit down,’ are SEC-mandated market-wide mechanisms deployed across all US exchanges, designed to protect both companies and investors and minimize excess volatility in a single stock or the wider market.”

Joe Saluzzi, a market structure expert and co-founder of Themis Trading, told CNN in an email Saturday that “these types of halts are very common” and noted that such halts are mandated by federal regulators and have been in place since 2013 across the entire US exchange listed stock market.

“So, Mr. Trump’s threat about moving his stock from Nasdaq to NYSE would have no effect since both Nasdaq and NYSE both follow the same SEC rules,” he said.

I wouldn’t trust Trump to take care of my dead cat.

Only a moron would invest money with a guy like Trump.

https://www.cnn.com/2024/09/14/media/truth-social-...

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