United Atlantic Ventures, managed by Trump Media co-founder Andrew Litinsky, who had appeared on Trump's hit reality TV show “The Apprentice,” cut its 5.5% stake from over 7.5 million shares to just 100 shares.
United Atlantic Ventures LLC offloaded more than 7.5 million shares of former President Donald Trump's Trump Media & Technology Group, a regulatory filing showed Thursday, almost completely eliminating its stake in the company.
Trump Media insider United Atlantic Ventures has reduced its stake in the company controlled by former President Donald Trump by 7.5 million shares, according to a filing on Thursday.
Trump Media has moved according to Trump's electoral prospects. The business is still generating almost no revenue.
Even after Wednesday's big rebound, Trump Media shares are down 72% since the social-media company listed via a SPAC merger.
TMTG is still ridiculously valued after its more than 90% decline. The company doesn't report key growth metrics, and it barely generates any revenue.
The lockup period preventing insiders from selling Trump Media stock expired recently. The stock has not been hit with big waves of insider selling.
Shares of former U.S. President Donald Trump's media company sprang back over 6% on Wednesday, rebounding from all-time lows after restrictions on insider selling expired last week.
Trump Media & Technology (DJT) stock has shown a bit of bounce this week.
Shares of Trump Media, the company majority owned by Donald Trump, rose for a second straight day.
Trump Media & Technology Group Inc.'s stock was up nearly 7% in premarket trading on Wednesday as a two-day deadline passed with no fresh filings from insiders selling stock.
Trump Media snapped a six-day losing streak Tuesday.