From Investing.com: 2024-11-15 19:40:48

ARC Global Investments, key shareholder of Trump Media & Technology Group, has sold off most of its stake in the media company. ARC and manager Patrick Orlando now hold just a 0.01% stake, down from over 5% in September. Orlando was ousted as CEO of Digital World Acquisition, the blank-check company that took Trump Media public.

A Delaware judge ruled in September that Trump Media breached an agreement with ARC Global Investments, requiring the fund to receive over half a million additional shares before an insider sales lock-up expires. President-elect Donald Trump owns nearly 115 million shares and has a nearly 53% stake in Trump Media, which operates the Truth Social media platform.



Read more at Investing.com: Major Trump Media shareholder sells nearly entire stake By Reuters