United Atlantic Ventures LLC reduced its shares of Trump Media & Technology group following the end of a lockup period preventing major shareholders from selling their stakes.

A major Trump Media shareholder and former contestant on “The Apprentice” has unloaded almost his entire stake in former President Donald Trump’s social media company. Although the stock price has been volatile, that stake is worth roughly $100 million at current prices.

Shares of former U.S. President Donald Trump's media company sprang back over 6% on Wednesday, rebounding from all-time lows after restrictions on insider selling expired last week. Two straight days of gains in Trump Media & Technology Group,

United Atlantic Ventures LLC (UAV) has divested over 7.5 million shares of Trump Media’s stock, according to a 13G regulatory filing made with the Securities and Exchange Commission (SEC) on Thursday.

Key Takeaways Trump Media & Technology stock has risen in recent sessions, climbing roughly 10% Wednesday morning.The shares have mostly fallen this year, last week on news that lock-up agreements limiting some owners' ability to sell the stock had expired.

When Trump Media and Technology Group (NASDAQ: DJT) went public six months ago, it quickly attained "meme stock" status, attracting a stampede of speculative traders. The social media company went public by merging with a special purpose acquisition company ( SPAC ),

Shares of Trump Media & Technology Group spiked more than 10% Wednesday afternoon, reversing course after weeks of free-falling that saw the media company’s stock sink to new low after new low.