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Major Trump Media shareholder ARC Global unloads nearly all DJT stock
President-elect Donald Trump is the majority owner of Trump Media, which trades on the Nasdaq as DJT.
The Thursday night disclosure to the U.S. Securities and Exchange Commission showed that financial firm ARC Global Investments II and its manager, Patrick Orlando, no longer own more than 5% of Trump Media stock. Trump Media, which operates the Truth Social app, suffered a major sell-off in late summer and by the end of September was trading near its postmerger lows. The financial firm ARC Global Investments II and manager Patrick Orlando no longer own more than 5% of Trump Media stock, an SEC filing showed.
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