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Eric Swider, a director at Trump Media & Technology Group Corp. (NASDAQ:DJT), recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transactions, carried out over two days, involved the sale of 15,000 shares, yielding a total of $296,450.
On March 11, Swider sold 5,000 shares at a price of $19.57 each. The following day, he sold an additional 10,000 shares at $19.86 per share. After these transactions, Swider holds 28,989 shares directly. Some of these shares are restricted stock units, which are subject to vesting conditions as part of the company’s 2024 Equity Incentive Plan. With average daily trading volume of 123.86 million shares, these insider transactions represent a small portion of typical daily activity. For deeper insights into DJT’s insider trading patterns and valuation metrics, consider exploring InvestingPro.
These sales reflect Swider’s ongoing management of his holdings in the company, which operates within the computer programming and data processing industry.
In other recent news, Trump Media and Technology Group Corp. (TMTG) has announced plans to expand into the financial services sector with the launch of Truth.Fi, a new financial services and FinTech brand. The company has filed trademark applications for various America First-themed investment products, including exchange-traded funds (ETFs) and separately managed accounts (SMAs). TMTG has committed up to $250 million to be managed by Charles Schwab (NYSE:SCHW), while Yorkville Advisors will act as the Registered Investment Advisor. Additionally, TMTG has partnered with Moov to enhance its payment processing capabilities, offering flexible payment options like credit cards and ACH transfers for its platforms.
In a separate legal development, TMTG, along with its partner Rumble, has taken legal action against a Brazilian Supreme Court Justice’s order to suspend Rumble’s operations in Brazil. The companies filed an emergency motion in a U.S. federal court to challenge the enforceability of these orders in the United States. The legal dispute underscores the ongoing tension between national regulations and global internet platforms. Meanwhile, TMTG’s expansion into financial services has had a ripple effect on competitors, as seen in the significant drop in Bakkt Holdings’ stock price. The announcement of Truth.Fi’s launch has sparked concerns about Bakkt’s competitive positioning in the digital asset marketplace.
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