Trump Media Stake Drop: Shareholder Sells $100 Million Worth
Thursday, 26 September 2024, 15:36
Trump Media Co-Founder Sells $100 Million Worth of Stock
A major shareholder and former contestant from "The Apprentice," Andy Litinsky has divested from Trump Media, reducing his holdings drastically. This turnaround comes as the company navigates challenges on multiple fronts.
Details of the Sale
- Litinsky’s United Atlantic Ventures now owns just 100 shares after previously holding over 7.5 million.
- The stock sale reflects ongoing volatility in Trump Media's share price.
- Litinsky’s attorney has yet to provide a statement regarding the transaction.
Impact on Trump Media
- Trump Media's legal issues are a significant backdrop to this divestiture.
- Trump's dominant stake in the company remains intact, as he states he will not sell.
- As of the latest filings, Trump holds 114.75 million shares, valued significantly lower than before.
This development is crucial as it may indicate broader investor sentiment towards Trump Media and its future performance in the stock market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.