Trump Media stock jumps in heavy trading after co-founders dump DJT shares

Trump Media stock jumps in heavy trading after co-founders dump DJT shares


Omar Marques | Lightrocket | Getty Images

Shares of Trump Media were trading more than 6% higher as of 2 p.m. ET on Friday after major shareholder United Atlantic Ventures, LLC, sold nearly 11 million of their shares in the company Thursday.

UAV, an investment partnership of former “Apprentice” contestants Andrew Litinsky and Wes Moss, dumped virtually its entire stake in the company Thursday. It was left with just 100 shares in Trump Media, which also owns former president Donald Trump’s social media app Truth Social.

Litinsky and Moss co-founded the social media company with Trump in 2021. The two have since fallen out with Trump and engaged in legal disputes with Trump Media over their shares.

UAV’s decision to sell its 5.4% stake comes after the expiration of a lock-up agreement on Sept. 19, which had barred Trump and other early investors from selling their shares.

Thursday’s SEC filing did not disclose how much UAV made from offloading its shares. But based on the price range that DJT has sold for since the lockup expired, UAV may have received between $128 million and $170 million for its stock.

Following six straight trading days in the red since the expiration of the lockup restrictions, including hitting a new 52-week low on Monday, Trump Media shares snapped a losing streak Tuesday, ending the trading day up more than 5% at $12.79 per share.

Trump, who owns nearly 57% of the outstanding shares, said he has “absolutely no intention to sell.”

In previous regulatory filings, Trump Media has stated that the success of its sole product, Truth Social, depends on Trump’s popularity and continued use of the platform.

Despite, the recent uptick, as of 1 p.m. ET Friday the stock was down around 77% overall since Trump Media made its market debut on the Nasdaq in late March after a merger with a special purpose acquisition company.



Source

Trump administration weighs adding 36 countries to travel ban, memo says
Politics

Trump administration weighs adding 36 countries to travel ban, memo says

U.S. President Donald Trump’s administration is considering significantly expanding its travel restrictions by potentially banning citizens of 36 additional countries from entering the United States, according to an internal State Department cable seen by Reuters. Earlier this month, the Republican president signed a proclamation that banned the entry of citizens from 12 countries, saying the […]

Read More
Manhunt for suspect in shootings of Minnesota lawmakers continues for second day
Politics

Manhunt for suspect in shootings of Minnesota lawmakers continues for second day

Law enforcement officers with the River Valley Tactical Team, prepare to visit the home of Vance Luther Boelter, who officials describe as a person of interest in the killing of Rep. Melissa Hortman and her husband, and the shooting of Sen. John Hoffman, near Green Isle, Minn., Saturday, June 14, 2025. Anthony Souffle | Star […]

Read More
Sen. Klobuchar mourns assassinated Minnesota Democrat Melissa Hortman as manhunt continues
Politics

Sen. Klobuchar mourns assassinated Minnesota Democrat Melissa Hortman as manhunt continues

Minnesota House Democratic Caucus Leader Melissa Hortman speaks with reporters at the state Capitol in St. Paul on Thursday, Feb. 6, 2025. Sen. Amy Klobuchar remembered fellow Minnesota Democrat Mellissa Hortman, who was fatally shot in her home early Saturday morning alongside her husband, Mark, as a “true public servant.” “I just wish everyone in […]

Read More