Major Shareholder Sells Nearly All of Its Stake in Trump's Media Company

United Atlantic Ventures, led by co-founders of Trump's Truth Social, reduces its ownership from 7.5 million shares to just 100.

United Atlantic Ventures, managed by Andrew Litinsky and Wesley Moss, sold nearly 11 million shares of Trump Media after lock-up restrictions expired on September 19.
The firm's stake in Trump Media dropped from 5.5% to a mere 100 shares, significantly impacting the company's stock market value.
Trump Media's stock has seen a sharp decline, falling from a peak of $79.38 to $13.98 per share as of Thursday's close.
The sale follows a series of legal disputes between Litinsky, Moss, and Trump Media, including accusations of mismanagement and attempts to dilute shares.
Former President Donald Trump, who holds about 57% of the company's shares, has stated he does not plan to sell his stake.