Bullet points of A top DJT investor says it has sold most of its shares in Trump Media
Bullet points of A top DJT investor says it has sold most of its shares in Trump Media
- United Atlantic Ventures, a major investor in Trump Media & Technology Group, has sold over 7.5 million shares in Truth Social, the social media platform founded by former President Donald Trump.
- The sale, which was disclosed in a regulatory filing, represents about 4% of the company's outstanding shares.
- Trump is the company's largest shareholder, holding around 60% of the stock.
- United Atlantic Ventures is the creation of two former contestants on 'The Apprentice' reality show, Andrew Litinsky and Wes Moss.
- The two co-founders had worked on the debut of Truth Social but their relationship with the business soured, leading to multiple lawsuits.
- The sale comes after the expiration of a lock-up period that prevented insiders, including Trump, from selling their stakes in the company.
- DJT shares have lost much of their value since their debut, plunging 82% since their peak in March.
- The stock has rebounded slightly since hitting a low on September 24, ending trading on Thursday at $14.13.
- United Atlantic Ventures, a major investor in Trump Media & Technology Group, has sold over 7.5 million shares in Truth Social, the social media platform founded by former President Donald Trump.
- The sale, which was disclosed in a regulatory filing, represents about 4% of the company's outstanding shares.
- Trump is the company's largest shareholder, holding around 60% of the stock.
- United Atlantic Ventures is the creation of two former contestants on 'The Apprentice' reality show, Andrew Litinsky and Wes Moss.
- The two co-founders had worked on the debut of Truth Social but their relationship with the business soured, leading to multiple lawsuits.
- The sale comes after the expiration of a lock-up period that prevented insiders, including Trump, from selling their stakes in the company.
- DJT shares have lost much of their value since their debut, plunging 82% since their peak in March.
- The stock has rebounded slightly since hitting a low on September 24, ending trading on Thursday at $14.13.