按照DJT目前的股价约14美元的价值计算，联合大西洋这次出售收回了约1亿美元的资金，其持股比例也从5.5%降至几乎忽略不计。①One of the major shareholders of the Trump Media Company, in conjunction with Atlantic China Welding Consumables, Inc., has sold approximately 7.5 million shares of stocks, leaving only 100 shares in hand; ②The two executives of Atlantic China, both of whom are co-founders of the Trump Media, are also participants in the Trump reality show and have a deep connection with Trump; ③The two had a falling out with Trump in the past, which set the stage for their recent stock sell-off.
Caixin Media September 27th News (Editor Malan) A regulatory filing submitted on Thursday showed that one of the largest shareholders of Trump Media (DJT), Atlantic China Welding Consumables, Inc., has sold approximately 7.5 million shares of the company's stocks, leaving only 100 shares.
Both executives of Atlantic China, Andy Litinsky and Wes Moss, are co-founders of DJT and have also been contestants in Trump's reality show "The Apprentice" – in other words, their equivalent of Trump's "apprentices".
Based on DJT's current stock price of approximately $14, Atlantic China has recouped about $0.1 billion from this sale, and its stake has dropped from 5.5% to almost negligible.
This is DJT's first major transaction after the end of the stock selling restriction period. According to the plan, any large investor selling DJT stocks had to wait until after September 19th. This clause also applies to Trump, but he has stated that he will not sell DJT stocks.
Strained Relationship
Since going public through a reverse merger in March, DJT's stock price has been subject to extremely high volatility, with its market cap soaring to nearly $10 billion at one point, seen by many speculators as a bet on Trump becoming president. However, with the constantly changing tides during the election process, DJT's market cap has fallen to $2.8 billion.
Previously, the market was selling off DJT stocks frantically last week due to concerns that Trump would cash out heavily after the lock-up period. However, following Trump's clear stance, the two co-founders chose to bail out first, to some extent, this plot is somewhat ironic.
This is also related to the dissatisfaction of the two towards Trump. One year after the launch of DJT's flagship product, Truth Social social platform, Trump began to have internal conflicts with Litinsky and Moss, and then their relationship continued to deteriorate.
In a lawsuit this year, DJT claimed that the two should not receive so many stocks in DJT after its listing, because their attitudes towards advancing DJT's listing work were slack, affecting the listing rhythm.
However, this lawsuit ended with Litinsky and Moss winning. But it also did not help to bridge the gap between the two and Trump.
Therefore, Litinsky and Moss withdrawing from DJT can be seen as a declaration of separation from Trump, but on the other hand, it may also reveal the disagreement between the two on DJT's financial future.
As of now, DJT is still in a state of significant losses, with its revenue only equivalent to the revenue of two Starbucks coffee shops.
