Trading in obscure stocks soared before Trump appointments disclosed, FT says

Trading in two obscure New York-listed stocks skyrocketed in the weeks before the companies announced the appointment of Trump family members to their advisory board, the Financial Times’ Paul Caruana Galizia, Ray Douglas and George Steer report, citing data and regulatory experts. Drone maker Unusual Machines (UMAC) almost tripled in the four weeks leading up to the announcement of Donald Trump Jr.’s appointment, while fintech group Dominari Holdings (DOMH) rose by 580% in the six weeks before disclosing Trump Jr and Eric Trump had joined its board. Regulatory experts said the timing and scale of the moves, which do nor appear tied to other announcements in the period, were “clearly unusual”.