Trump Media & Technology Group's key shareholder, ARC Global Investments, has unloaded nearly all its stake in the media company, it said in a regulatory filing on Thursday.
There's been strong volume for the closely watched Trump Media & Technology stock, but no big pops after Election Day.
As one of the most volatile stocks of 2024, Trump Media (NASDAQ: DJT) has experienced wild price swings throughout the year. The budding media business's stock price hasn't correlated with fundamentals at all — instead, it largely reflected public perception of Donald Trump, particularly with regard to his now-successful bid for the White House.
Shares fell 5% Wednesday after reports that insiders will start selling stock.
Phillip Juhan, chief financial officer of Trump Media, recently sold nearly $12 million worth of stock in the company, which operates the Truth Social app. Two other corporate insiders, general counsel Glabe Scott and director Eric Swider, also sold shares of DJT.
About $300 million was erased from Donald Trump's net worth after shares of Trump Media & Technology Group fell by 8% on Tuesday, as trading in the Truth Social parent has declined since surging after Trump's election victory last week.
The Truth Social parent was on track to wipe out Monday's gains early Tuesday as the stock remained volatile.
President-elect Donald Trump picked immigration hard-liner Tom Homan as his "Border Czar." Homan, the former acting director of U.S. Immigration and Customs Enforcement, has advocated for mass deportations of undocumented immigrants.
Trump Media needs to set its sights beyond Donald Trump.
“The government ethics program is dead,” says former Office of Government Ethics director.
The stock was volatile ahead of last week's election, and nothing much has changed on that front since Donald Trump was declared the winner.
Will Donald Trump sell shares of Truth Social's parent company? On Friday, the president-elect gave a resounding no.