:max_bytes(150000):strip_icc()/GettyImages-2174481310-017227a7901b46dd8a619f5bdadca8e1.jpg "A Big Trump Media Stockholder Sold—But It Wasn’t Trump")
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Key Takeaways
- A big Trump Media & Technology shareholder unloaded millions of shares not long after becoming eligible to do so—but it wasn’t Trump himself.
- Investors have waited to see whether any of the insiders who became able to sell shares after a lock-up period ended would do so.
- Shares of the Truth Social parent recently were up 8%.
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 the company sometimes known as “DJT,” parent of Truth Social, recently were up 8% to a bit above $15, leaving them ahead roughly 12% for the week. The stock has mostly fallen this year, though the shares have in recent days shown some bounce as investors waited to see whether any of the insiders who became able to sell shares after a lock-up period ended would do so.
United Atlantic Ventures Sold About 11M Shares
They likely were watching most closely for sales by former President Donald Trump, owner of about 57% of the company, who has recently said he doesn’t plan to sell. On Thursday, another owner—United Atlantic Ventures, which as of early September owned some 11 million shares, more than 5% of the company—reported holding just 100, according to regulatory filings.
That was the first known sale by any of the people or companies covered by the lock-ups, a list that in addition to trump includes Chief Executive Officer (CEO) Devin Nunes.
Trump Media stock, which recently changed hands around $15, is trading well off 2024 intraday highs near $80 a share.