The company in question was able to explain a massive stock trade before Trump’s shooting, which sparked feverish conspiracy theories.
Austin Private Wealth’s filing with the U.S. Securities and Exchange Commission on July 12 showed the company short-sold 12 million shares of Trump Media & Technology Group Corp. (DJT) via a put option, sparking frenzied conspiracy theories after a number of social media users highlighted the unusual trade.
short selling It is a bet That the stock will fall in a certain period.
Austin Private Wealth says the application was a clerical error. Photo: @CharlesRixey/X
“The SEC filing that showed Austin Private Wealth shorted a significant number of Trump Media & Technology Group Corp. (DJT) shares was incorrect and we immediately amended it as soon as we became aware of the error,” Austin Private Wealth said in a statement. a permit Wednesday.
“No APW client held, or ever held, a put option on DJT in the quantity initially reported. The correct holding amount was 12 contracts, or 1,200 shares – not 12 million shares, as was erroneously reported. When submitting the required Q2 2024 report, a multiplier was applied by a third-party vendor that increased the number of shares by a multiple of 10,000 for all options contracts (not just DJT). We did not discover the error prior to approving the submission.”
The filing, filed on July 12, reflected the company’s positions on June 28, and Austin Private Wealth said it was amended on July 16.
“We deeply regret this error and the concern it has caused, especially at this difficult time for our nation,” the company said in a statement.
“We are committed to full transparency and maintaining the trust of our customers. As such, we are reviewing our internal procedures and processes with the third-party vendor that assists with the SEC filings to better understand how this occurred and avoid similar issues in the future.”
Donald Trump’s Truth Social account. Photo: Scott Olson/Getty Images/AFP
Trump Media & Technology Group Corp., a Nasdaq-listed company launched in 2021 and trades as DJT, is the owner of Trump’s Truth Social platform, and its large swings in value are often seen as a proxy for the former president’s own fortunes.
Many of his supporters who have bought shares in Donald Trump’s company see it as a way to support Trump financially, as he owns 60% of the company, rather than a traditional stock investment.
The emergence of the unusual short position Conspiracy theories About the attempted assassination of a Trump campaign rally on Saturday in rural Pennsylvania that left the former president injured, one attendee dead and two others injured.
“Who knew the strike was coming,” wrote the X WiseGuys account in one tweet. viral post Viewed 3.6 million times. “Donald Trump’s stock skyrocketed in the week leading up to the strike. They thought Monday morning Trump was going to die. Who shorted millions of shares in the week leading up to the strike?”
Shares of Donald Trump Insurance Company surged after the shooting, from $31.25 on Friday to $46.17 Monday morning — a gain of more than 47 percent — before settling at $40.58, about 30 percent above their previous closing price.
The huge increase added about $1 billion ($1.5 billion) to Trump’s $7.1 billion ($10.6 billion) stake in the company.
DJT shares surged after the shooting. Photo: Michael M. Santiago/Getty Images/AFP
CommSec Market Analyst Laura Pesarati Sky News Australia presenter Ed Boyd said on Tuesday that the rise “definitely” could indicate investors believe Trump will win the election in November.
“Last night was the first US trade session after Trump’s attack and it’s clear that Trump continues to gain momentum,” she said.
“His odds of winning the election have risen. Of course, bets on Trump winning the election have risen since the attack after President Joe Biden’s poor performance in the final debate late last month, but expectations that Trump could definitely win have only increased.”
DJT stock closed at $37.38 on Wednesday, about 20% higher than its closing price on Friday.
Investigators determined that Thomas Matthew Crooks, 20, who lived in a town about 50 miles from the Butler shooting site, acted alone and could not determine any strong ideological or political leanings.
He lived with his parents, worked at a retirement home, and had recently graduated from community college.
His electronic devices — a laptop and two cellphones — were searched, according to the politicians briefed by the FBI and Secret Service in a closed-door session on Wednesday.
Among his recent internet searches were queries about Trump, President Joe Biden, Butler’s rally dates, and the upcoming Democratic convention.
Other searches included FBI Director Christopher Wray, Attorney General Merrick Garland, and a member of the British royal family.
Investigators say Thomas Matthew Crooks acted alone. Photo: Supplied
“They finally got access to the phone, which is good news,” retired FBI assistant director Frank Figliuzzi told MSNBC.
“The bad news here is that this doesn’t help them at all in terms of motive. The motive is still missing, and I warn people — don’t expect any kind of rational motive here, and don’t apply logic to madness. I remind people of the mass shooting in Las Vegas a few years ago[which killed 58 people]. We still don’t have a motive for that.”
Speaking to Fox News, Robin Drake, a former FBI agent, said determining Crooks’ motive for the crime may be difficult.
“I think he was doing it for fame,” Mr. Drake said.
Multiple investigations are underway into the assassination attempt.
Among the main questions is how the gunman was able to secure a position on the roof of a nearby building with a clear view of the stage even after security forces warned him off.
“Crooks was identified as a suspect an hour before the shooting, but the Secret Service lost track of him,” said Republican Sen. John Barrasso of Wyoming.
Rally participants spotted Crooks on the roof of the building just minutes before Trump took the stage and alerted police on the ground to his presence.
Crooks opened fire with an AR-style rifle just minutes after Trump began speaking, causing his ear to bleed. He was killed by a Secret Service sniper 26 seconds after the first of eight shots was fired.
The leaks sparked outrage among some Republicans, including House Speaker Mike Johnson, who called for the resignation of Secret Service Director Kimberly Shettle.
Two rally attendees were seriously injured in the shooting, and firefighter Corey Comperatore, 50, of Freeport, Pennsylvania, was shot and killed.
— With AFP
