Rep. Brian Higgins

Featured Stories:

National Heritage Act, Supported by Higgins, Signed Into Law

On Thursday, January 5, President Biden signed the National Heritage Act (S. 1942) into law.  The legislation, advanced with the support of Congressman Brian Higgins (NY-26), provides a long-term commitment to federal investments in Western New York He...

Congressman Higgins Announces Over $6.4 Million for Western New York Health Centers

Congressman Brian Higgins (NY-26) announced $6,466,603 for Western New York’s federally qualified health centers. Included in the awards is $928,681 to ramp up COVID vaccination efforts as the local community is facing the triple threat of increasing c...

WITH BUFFALO STILL RECOVERING FROM THE DEADLY HOLIDAY WEEKEND STORM, SCHUMER, GILLIBRAND AND HIGGINS CALL ON FEDS TO IMMEDIATELY APPROVE A MAJOR DISASTER DECLARATION...

After Securing Emergency Declaration, Schumer, Gillibrand, Higgins Say The Full Force Of The Federal Government Needs To Get Behind WNY To Give It The Financial Support It Needs To Recover From Horrific Winter Storm Over The Holiday Weekend – And That ...

Higgins Announces House Approval of 2023 Federal Budget

Congressman Brian Higgins (NY-26) announced the House of Representatives has approved the 2023 federal budget, funding federal programs, ranging from veteran services to transportation projects, for the upcoming year. “This is a budget that prioritie...

Higgins Announces Approval of the Presidential Tax Filings & Audit Transparency Act

Congressman Brian Higgins (NY-26) announced the approval of the Presidential Tax Filings and Audit Transparency Act (H.R.9640). Introduced by Representative Richard Neal (D-MA), Chairman of the House Ways and Means Committee, following the committee’s ...

Over $24.67 Million Requested by Congressman Higgins for WNY Projects Included in Recently Released 2023 Federal Budget

Congressman Brian Higgins (NY-26) announced more than $24.67 million in funding he requested for Western New York projects is included in the federal budget legislation released on December 20, 2022, and headed for a vote in the House of Representative...

Popular articles

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.