The recent sale of over 7.5 million shares of Trump Media by United Atlantic Ventures marks the first insider transaction following the expiration of the lockup period.
Litinsky and Moss, co-founders of Truth Social, are embroiled in a legal battle with Trump Media, who accused them of mismanagement that delayed the merger.
Following the successful legal ruling by a Delaware judge, United Atlantic Ventures was cleared to sell its shares, leading to the significant stock transaction.
Despite the sale of the 7.5 million shares, investor reactions have been muted and Trump's commitment to retain his shares remains unwavering.
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