Important points
A major shareholder in Trump Media & Technology sold millions of shares shortly after becoming eligible, but it wasn’t Trump himself. Investors were waiting to see if any insiders were able to sell their shares after the lock-up period. Share of the Truth Social’s parent company recently gained 8%.
Trump Media & Technology’s largest shareholder sold millions of shares shortly after acquiring the rights, but it wasn’t Trump himself.
Shares of Truth Social’s parent company, also known as DJT, recently rose 8% to just over $15, for a weekly gain of about 12%. The stock price has been mostly down since the beginning of this year, but has been buoyant in recent years as investors wait to see if insiders who are now able to sell their shares after the lock-up period ends will sell their shares. Stock prices have rebounded somewhat on the day.
United Atlantic Ventures sells approximately 11 million shares
They were perhaps most closely monitoring the sale by former President Donald Trump, who owns about 57% of the company, but recently said he had no intention of selling. On Thursday, another owner, United Atlantic Ventures, reported holding about 11 million shares, more than 5% of the company, as of early September, according to a regulatory filing. There were only 100 shares.
This is the first sale by a person or company subject to a lockup, and in addition to Trump, the list also includes CEO Devin Nunes.
Trump Media stock recently changed hands around $15, but it still trades well below its 2024 intraday high of nearly $80 per share.
