Trump Media & Technology Group Corp.'s stock rose Monday to bring its total gain for the past week up to nearly 30%, but it still remains in negative territory for September as the month ends.
Even though some early investors did sell shares, Trump himself has said he won't reduce his stake.
The initial daily trading (for September 20 to 27) was notably active. However, the final result was simply a 0% roundtrip.
The lockup period for Trump Media stock recently expired. The former president isn't planning on selling his stake in the business.
A big Trump Media & Technology shareholder unloaded millions of shares not long after becoming eligible to do so—but it wasn't Trump himself.
Shares of Trump Media were trading more than 7% higher as of noon on Friday after major shareholder United Atlantic Ventures LLC dumped virtually its entire stake in the company Thursday.
Andrew Litinsky, a former “The Apprentice” contestant and co-founder of Trump media, sold most of his stake.
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.