{"id":108382,"date":"2024-09-29T15:41:49","date_gmt":"2024-09-29T08:41:49","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=108382"},"modified":"2024-09-29T15:41:49","modified_gmt":"2024-09-29T08:41:49","slug":"trump-media-co-founder-investor-dumps-shares-following-lockup-period","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=108382","title":{"rendered":"Trump Media co-founder, investor dumps shares following lockup period"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<div class=\"slide-image-container\">\n\t<img loading=\"lazy\" decoding=\"async\" style=\"width: 100%; aspect-ratio:attr(width) \/ attr(height); max-height: 430px; \" width=\"800\" height=\"535\" src=\"https:\/\/cdnph.upi.com\/svc\/sv\/upi_com\/5831727550906\/2024\/1\/5f7ed1dbf50add19b05844ae2c98f3c8\/Trump-Media-co-founder-investor-dumps-shares-following-lockup-period.jpg\" title=\"One of the co-founders of Trump Media &amp; Technology Group Corp., parent company of the Truth Social platform, has sold nearly his entire ownership stake in the firm, according to a regulatory filing this week. File Photo by Will Oliver\/EPA-EFE\" alt=\"One of the co-founders of Trump Media &amp; Technology Group Corp., parent company of the Truth Social platform, has sold nearly his entire ownership stake in the firm, according to a regulatory filing this week. File Photo by Will Oliver\/EPA-EFE\"\/>\n<\/div>\n<p>One of the co-founders of Trump Media &amp; Technology Group Corp., parent company of the Truth Social platform, has sold nearly his entire ownership stake in the firm, according to a regulatory filing this week. File Photo by Will Oliver\/EPA-EFE<\/p>\n<article itemprop=\"articleBody\">\n<p><span class=\"story_dl\">Sept. 28 (UPI) &#8212;<\/span> A co-founder of former President <a href=\"https:\/\/www.upi.com\/topic\/Donald_Trump\/\" target=\"_blank\" title=\"Donald Trump\" class=\"tpstyle\" rel=\"noopener\">Donald Trump<\/a>&#8216;s Truth Social messaging platform has dumped his shares following the expiration of a mandatory &#8220;lockup&#8221; period, a public filing shows.<\/p>\n<p>United Atlantic Ventures LLC, headed by Andrew Litinsky, a one-time contestant on Trump&#8217;s television show <i>The Apprentice<\/i>, now holds only 100 shares of Trump Media &amp; Technology Group Corp., Truth Social&#8217;s parent company, according to a Securities and Exchange Commission <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1849635\/000149315224038295\/formsc13-g.htm\" target=\"_blank\" rel=\"noopener\">document<\/a> filed Thursday.\n<\/p>\n<\/article>\n<p>At the time of its debut on the Nasdaq market following a merger with a publicly traded shell company in March, Litinsky&#8217;s firm held more than 7.5 million shares, representing an approximately 4% stake.<\/p>\n<p>The former president owns a majority stake in the company, which goes by ticker symbol DTJ. Its share price has fluctuated wildly since March, largely in relation to Trump&#8217;s political fortunes and is considered a &#8220;meme&#8221; stock by most market observers.\n<\/p>\n<p>Since mid-May, however, its share price has largely been on a steady downward trajectory and reached new lows this week as SEC-imposed rules restricting the sale of shares by company insiders in the wake of the merger <a href=\"https:\/\/www.upi.com\/Top_News\/US\/2024\/09\/19\/Trump-Media-shares-reach-new-low-lockup-period-set-expire\/4501726765890\/\" target=\"_blank\" rel=\"noopener\">expired<\/a>.\n<\/p>\n<p>Analysts questioned whether Trump himself would sell his shares &#8212; the former president has vowed he would not &#8212; but the prospect of other investors dumping their positions further depressed share prices.<\/p>\n<p>Trump Media had a market capitalization of $2.954 billion at Friday&#8217;s close.<\/p>\n<p>The peak was $79.38 on March 26.<\/p>\n<p>DTJ closed at $14.75 per share on Friday, up from an all-time low of $11.75 on Tuesday. At this week&#8217;s low-water mark, United Atlantic Ventures&#8217; sale would have been worth $89 million.<\/p>\n<p>The share sale was not unexpected due to legal battling between Trump and the former <i>Apprentice<\/i> contestant.<\/p>\n<p>In April, Litinksy and partner Wesley Moss, another former contestant on the show, were sued by Trump Media &amp; Technology Group, which sought to force them to give up their ownership stakes and leadership positions in the firm.<\/p>\n<p>The <a href=\"https:\/\/www.upi.com\/Top_News\/US\/2024\/04\/03\/Trump-Media-sues-co-founders-merger\/8781712145172\/\" target=\"_blank\" rel=\"noopener\">suit alleges<\/a> the pair &#8220;failed spectacularly&#8221; in their leadership of the company and made &#8220;reckless and wasteful decisions&#8221; that damaged it. That action came after they sued Trump Media claiming their stake should have been higher.<\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.upi.com\/Top_News\/US\/2024\/09\/28\/major-Trump-Media-investor-dumps-shares-following-lock-up-period\/5831727550906\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the co-founders of Trump Media &amp; Technology Group Corp., parent company of the Truth Social platform, has sold nearly his entire ownership stake in the firm, according to &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=108382\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-108382","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/108382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=108382"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/108382\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=108382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=108382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=108382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}