Former 'Apprentice' contestant reduces their stake in Trump Media & Technology

By Steve Gelsi

Trump Media co-founder Andrew Litinsky now owns 100 shares through United Atlantic Ventures

An insider at Trump Media & Technology Group Corp.'s has reduced their stake to 100 shares from 11 million shares, according to filings.

United Atlantic Ventures LLC, the investment vehicle for Andrew Litinsky, the former contestant on Trump's TV show "The Apprentice" had owned 7.53 million shares as disclosed earlier this year, as well as an additional 3.44 million shares awarded in September.

Trump Media & Technology's stock (DJT) rose 4.6% on Friday after moving lower earlier in the session.

Thursday's filing did not disclose the sale price of United Atlantic Ventures stock or when it took place. It just listed its current stake as 100 shares.

Trump's stock has been moving lower in recent weeks as the Sept. 20 lockup expiration date approached for insiders to sell their stock in the company.

Stocks often drop around this time due to speculation that insider sales could flood the market with more stock and dilute the share price.

Litinsky won a judgment earlier this month to allow the transfer of the shares after suing Digital World Acquisition Corp.

As the majority shareholder of the parent of his Truth Social media brand, Trump owns 114.75 million shares as its largest stakeholder.

At its recent trading price of $14.54 a share, Trump's stock is worth about $1.7 billion.

The stock has risen 8% so far this week, but is down about 30% in the past month, according to FactSet data.

-Steve Gelsi

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09-27-24 1526ET

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