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shares of trump media Shares rose 5.58% on Friday to end the week at $14.76 per share after major shareholder United Atlantic Ventures LLC sold about 11 million shares of the company’s stock on Thursday.
UAV, an investment partnership between former “The Apprentice” contestant Andrew Liczynski and Wes Moss, released virtually all of its stake in the company, retaining just 100 shares. Trump Media operates the social media app Truth Social, whose largest shareholder is former President Donald Trump.
Liczynski and Moss co-founded a social media company with Trump in 2021. Since then, the two have had a falling out with Trump and are involved in a legal dispute with Trump Media over stock.
UAV’s decision to sell its 5.4% stake comes after a lock-up agreement that prohibited Trump and other early investors from selling their shares expired on September 19. It was done.
Thursday’s filing with the Securities and Exchange Commission did not say how much UAV made offloading its stock. However, based on the price range at which DJT has sold since the lockup expired, UAV could have received between $128 million and $170 million in company stock.
After six consecutive trading days in the red since lock-up restrictions expired, including hitting a 52-week low on Monday, Trump Media stock ended its losing streak on Tuesday, rising more than 5% to $12.79 per share. The transaction was completed.
President Trump, who owns nearly 57% of the outstanding shares, said he has “no intention of selling.”
Trump Media has said in previous regulatory filings that the success of its only product, Truth Social, depends on Trump’s popularity and continued use of the platform.
Despite the recent gains, as of Friday’s close, the stock had fallen an overall 77.76% since Trump Media made its market debut on the Nasdaq in late March following its merger with a special acquisition vehicle. As of Friday’s close, Trump Media’s market capitalization was $2.954 billion.
