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, Starmer say U.S.-UK trade deal finalized
Politics

Trump, Starmer say U.S.-UK trade deal finalized

U.S. President Donald Trump holds a folder with a document next to British Prime Minister Keir Starmer as they speak to the media during the G7 summit in Kananaskis, Alberta, Canada, June 16, 2025. Kevin Lamarque | Reuters President Donald Trump and British Prime Minister Keir Starmer on Monday said they had finalized a trade […]

Read More
Minnesota shootings suspect to face first-degree murder charges, state officials say
Politics

Minnesota shootings suspect to face first-degree murder charges, state officials say

Hennepin County Attorney Mary Moriarty announces plans to bring first-degree murder charges against Vance Boelter, the suspect in the shooting deaths of Democratic assemblywoman Melissa Hortman and her husband Mark, in Minneapolis, Minnesota, U.S., June 16, 2025. Tim Evans | Reuters Federal prosecutors on Monday charged the man accused of assassinating a Minnesota state lawmaker […]

Read More
Trump Organization announces mobile plan, 9 smartphone
Politics

Trump Organization announces mobile plan, $499 smartphone

US President Donald Trump disembarks from Air Force One while holding his cellphone with a text message from Roger Stone upon arrival at Joint Base Andrews in Maryland, May 30, 2025, after traveling to Pennsylvania to visit a US Steel plant. Saul Loeb | Afp | Getty Images The Trump Organization on Monday unveiled a […]

Read More