Overview of the Stock Sale

In a significant turn of events, the co-founders of Trump Media and Technology Group (TMTG), Andrew Litinsky and Wesley Moss, have divested nearly all of their stakes in the company, selling off the majority of their nearly 7.53 million shares—valued at approximately $100 million based on the latest closing price. The company publicly confirmed this move in a regulatory filing released Thursday.

Current Status of United Atlantic Ventures

Currently, the investment vehicle controlled by Litinsky and Moss, United Atlantic Ventures LLC, reportedly holds just a mere 100 shares as stated in the filing. Although they hold substantial shares, they do not serve in any official capacity within TMTG, meaning they are classified as passive investors and not insiders.

History of Partnership

The origins of this partnership trace back 20 years when Litinsky and Moss competed against Donald Trump on Season 2 of the reality TV show *The Apprentice*. Following Trump's ban from Twitter for his role in inciting the January 6 Capitol riots, the duo played a pivotal role in encouraging him to create his own social media platform, ultimately securing him a majority stake in the venture.

TMTG Stock Market Debut and Disputes

TMTG made its debut on the stock market this past March, with UAV owning 5.5% of the company at that time. However, tensions mounted quickly, leading to legal disputes as Litinsky and Moss felt undercompensated, and TMTG countersued, alleging that they mishandled the launch of Truth Social.

Impact of Stock Dilution and Recent Sale

By mid-August, UAV saw their stake diminish to less than 3.8% amid stock dilution issues, prompting concerns about a stock overhang. The timing of the recent sale was not disclosed, but UAV had been under a lockup agreement that had restricted their ability to sell prior to September 19, and it is speculated that their sale fell within a price range of $12-$15 per share.

Market Reaction and Future Concerns

While the departure of major stakeholders typically raises red flags, the market was already aware of the ongoing disputes, which may have softened the blow. Recently, UAV secured a lawsuit that allowed them access to their shares, enabling them to cash out and potentially lifting some uncertainty surrounding the company.

The Trump Factor

Nevertheless, the primary concern now revolves around Donald Trump himself, who holds a staggering 115 million shares, nearly 57% of TMTG. Speculation continues to unsettle investors as Trump faces increasing legal fees that may pressure him to sell off portions of his stake. Although he claims no intention to liquidate his shares, stock in TMTG recently plummeted to an all-time low, raising eyebrows across the financial community.

Trump's Ventures Beyond TMTG

Interestingly, while navigating these tumultuous waters, Trump has also ventured into the retail sector by launching an array of merchandise, from sneakers to bibles and even silver coins. On a provocative note, he recently unveiled his opulent diamond-encrusted wrist watches priced at up to $100,000 each, capturing attention amidst the backdrop of his company's legal battles and stock market instability.

Conclusion

The road ahead for TMTG remains uncertain, but the recent stock sell-off by Litinsky and Moss could be a potential inflection point, marking a new chapter for the controversial media group. How will this shake-up affect Trump's media ambitions? Only time will tell!