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. ARC, which once held over 11 million shares, and Orlando now hold just 0.

The case for DJT always relied on the namesake’s comeback. Now that he’s got it, the share price is floundering.

If there's also more traffic on Trump Media's social media platform Truth Social and its recently launched streaming service Truth+, investors could see improved results for the company. Is the stage set for this volatile stock to get back to the highs it reached earlier this year?

Shares of Trump Media & Technology Group extended a volatile stretch of trading for the company that has become a measure of investors’ moods ahead of Election Day.

Shares of Trump Media & Technology (NASDAQ: DJT) were soaring last month in seeming anticipation of a Trump victory in Tuesday's election as the former president's poll numbers generally improved over the course of the month, as did his chances of victory, according to betting markets.

Over the course of 14 minutes, from 2:48 p.m. to 3:03 p.m., trading on the stock was halted three separate times because of excess volatility. The pauses in trading came because there were too many shares changing hands at once, causing the price to oscillate wildly in the span of just a few minutes.

The CFO of Trump Media and two other executives sold a combined $16 million in stock after the presidential election, according to SEC filings and a report from CNBC. The news comes as social media users contemplate whether there will be any uncomfortable competition between Truth Social and X now that Donald Trump has tapped X owner Elon Musk to run some kind of commission to slash the federal budget by a third.

Trump Media stock was one of the clearest Trump trades going into the Nov. 5 election. The stock, which trades under the ticker DJT, fell further in early trading Thursday, slipping 5.9% to $27.22 even after Wednesday’s late call that Republicans will keep control the House.

Trump Media insiders sold stock worth more than $16 million in the days after last week’s presidential election, according to a series of filings late Tuesday.

CFO Phillip Juhan sold the majority of the company's stocks, while director Eric Swider and general counsel Scott Glabe each sold smaller amounts of the shares. Trump stated that he has no intention o