Hedge fund Qube unveils $105 million short position in Trump Media

Qube's disclosed presumption successful Trump Media, which was archetypal reported by probe steadfast Breakout Point, equates to 2.53% of the full escaped interval of Trump Media.

Trump Media and planetary quantitative and systematic hedge money Qube did not instantly respond to a Reuters petition for remark astir the abbreviated position.

Breakout Point said it marked the archetypal regulatory abbreviated disclosure successful Trump Media by immoderate entity, adding it is besides Qube's biggest abbreviated presumption successful percent presumption aft B Riley Financial.

Investors who merchantability securities "short" get shares and past merchantability them, expecting the banal to autumn truthful they tin bargain the shares backmost astatine the little price, instrumentality them to the lender and pouch the difference.

A fashionable banal among retail investors, shares successful Trump Media are down 44% this twelvemonth aft astir doubling successful worth past year. The abbreviated involvement successful the company, which has a marketplace worth of $4.2 billion, is astatine 4.9%, according to LSEG.

Earlier this month, Trump Media's shares plunged aft the institution filed papers that would let the president's spot to merchantability a ample fig of shares.

Its shares connected Monday were past up 1.6%.

(Reporting by Carolina Mandl successful New York; Editing by Joe Bavier)