Trump Media Shareholder Dumps Over 7 Million Shares Of DJT Stock Following Lock-Up Expiration
Portfolio Pulse from Kaustubh Bagalkote
United Atlantic Ventures (UAV) sold over 7 million shares of Trump Media & Technology Group Corp (NASDAQ:DJT) following the expiration of a lock-up agreement. UAV now retains only 100 shares, having previously owned a 5.4% stake. The sale, estimated at $151.32 million, comes at a critical time for Trump Media, with potential conflicts of interest for Trump ahead of the 2024 presidential election.
September 27, 2024 | 2:30 am
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UAV sold over 7 million shares of Trump Media (NASDAQ:DJT) after lock-up expiration, retaining only 100 shares. This significant insider sale could impact stock perception and price, especially with potential conflicts of interest for Trump ahead of the 2024 election.
The sale of a large number of shares by a significant insider like UAV can lead to a negative perception among investors, potentially driving the stock price down. The timing, ahead of the 2024 election, adds to concerns about conflicts of interest, further impacting investor sentiment.
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IMPORTANCE 80
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