Those who for whatever reason are holding shares in Trump Media And Technology Group, which is the company that owns Donald Trump’s Truth Social, have seen the share price go up to beyond $27 a share which is a stark difference from when the stock was basically in free fall as recently as early October. But those days might be over. It’s being reported that a key insider dumped his shares:
Trump Media director Eric Swider sold all of the stock he owned directly in the company on Friday, according to a filing with the Securities and Exchange Commission made Tuesday night. Previously, Swider had been the CEO of Digital World Acquisition Corp., the special purpose acquisition company that merged with Trump Media in March.
Swider did not respond to an inquiry. Via an LLC, he still owns another 18,000 shares in Trump Media.
Well, that’s not good if you’re looking to hold this stock for a long time. Because if one insider is dumping their shares, other insiders are likely to do the same thing. And the second that happens, this stock will be in free fall again. And that would really suck for anyone who still holds shares.
Watch this space.
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This entry was posted on November 14, 2024 at 3:59 pm and is filed under Commentary with tags Donald Trump. You can follow any responses to this entry through the RSS 2.0 feed.
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Key Trump Media Insider Dump Their Shares… That’s Not A Good Sign
Those who for whatever reason are holding shares in Trump Media And Technology Group, which is the company that owns Donald Trump’s Truth Social, have seen the share price go up to beyond $27 a share which is a stark difference from when the stock was basically in free fall as recently as early October. But those days might be over. It’s being reported that a key insider dumped his shares:
Trump Media director Eric Swider sold all of the stock he owned directly in the company on Friday, according to a filing with the Securities and Exchange Commission made Tuesday night. Previously, Swider had been the CEO of Digital World Acquisition Corp., the special purpose acquisition company that merged with Trump Media in March.
Swider did not respond to an inquiry. Via an LLC, he still owns another 18,000 shares in Trump Media.
Well, that’s not good if you’re looking to hold this stock for a long time. Because if one insider is dumping their shares, other insiders are likely to do the same thing. And the second that happens, this stock will be in free fall again. And that would really suck for anyone who still holds shares.
Watch this space.
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This entry was posted on November 14, 2024 at 3:59 pm and is filed under Commentary with tags Donald Trump. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.