Rep. Brian Higgins

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Higgins Kicks-Off Congress on Your Corner Program for 2023

Congressman Brian Higgins (NY-26) announced the kick-off of the Congress on Your Corner program for 2023 with new dates scheduled for January and February. Through the program, staff from Congressman Higgins’ office are available at satellite sites thr...

Congressman Higgins Celebrates Damar Hamlin’s Recovery and Buffalo’s Resilience on the House Floor

Buffalo Congressman Brian Higgins (NY-26) spoke on the floor of the House of Representatives to celebrate the recovery of Buffalo Bills player Damar Hamlin and the resilience of the people of Buffalo and Western New York.  Video: https://youtu.be/F...

Congressman Higgins Announces Grant Opportunity for Local Fire Departments

Congressman Brian Higgins (NY-26) announced that the Assistance to Firefighters Grant (AFG) program is now open with a deadline of February 10, 2023, at 5:00pm EST. “The Assistance for Firefighters Grant program provides local fire departments with cr...

SCHUMER, GILLIBRAND, HIGGINS ANNOUNCES $20 MILLION TO CREATE NEW NATIONAL ARTIFICIAL INTELLIGENCE RESEARCH INSTITUTE AT THE UNIVERSITY AT BUFFALO; REPS SAYS UB WILL LEAD...

On The Heels of Expanding The National Science Foundation In The CHIPS & Science Bill And Delivering The Largest $$$ Increase For The Agency Ever, UB Receives First NSF AI Institute Award of 2023 And The First For New York State Reps Says New NSF...

Ahead of Biden-Trudeau Meeting, Congressman Higgins Urges the Leaders to Rebuild & Reimagine the U.S. – Canada Relationship

In advance of a bilateral meeting between U.S. President Joe Biden and Canadian Prime Minister Justin Trudeau scheduled for Tuesday, January 10, Congressman Brian Higgins (NY-26) is urging the leaders to refocus on strengthening the bond between the bo...

Congressman Brian Higgins Sworn-In to Serve in the 118th Congress

Congressman Brian Higgins (NY-26) has been sworn in to serve as a member of the House of Representatives in the 118th Congress. “There is no greater privilege than to represent this great community and the people of Western New York in the United Sta...

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Trump Media scrambles to stop short sellers from tanking share prices



Trump Media and Technology Group, the parent company of Truth Social, is scrambling to stop short sellers from tanking its share values.

NBC News reports that Trump Media this week sent around suggestions to shareholders to prevent their shares in the company from winding up in the hands of short sellers who are essentially betting on the company's failure to make money.

According to NBC, the "tips include holding DJT shares in a cash account at a brokerage firm as opposed to a margin account, 'opting out of any securities lending program,' moving Trump Media shares to the company’s designated transfer agent, and transferring shares to a bank and 'holding them in your retirement account.'"

Short sellers essentially pay brokerage firms fees to borrow shares on a temporary basis on the belief that the shares will sink in price.

READ MORE: From 'really rich' to begging: Inside Trump's U-turn on one of his first campaign lies

After borrowing the shares, the short sellers proceed to sell them on the open market and then by them back by a specific date when they have to be returned to their owners.

If the share price in that time has indeed gone down, then the short sellers pocket the difference they made between the original sale and the repurchase.

If the share price increases, however, the short sellers lose money because they'll be buying back the shares at a higher price than the original sale.

Short sellers have swarmed to Trump Media shares for weeks now, as its price has plummeted from a high of $66.22 on March 27th to a low of $22.84 on Tuesday, although its price has recovered some of that lost value in the last day-and-a-half of trading.

The longer-term threat to Trump Media's value likely isn't short sellers, however, but simply a lack of profitability. The selloff in shares started earlier this month when the company released an earnings report showing that it lost $58 million in the last fiscal year while generating just $4 million in revenues.