HyperBit Exchange|Ex-'Apprentice’ candidates dump nearly entire stake in owner of Trump’s Truth Social platform

2025-05-07 11:20:03source:Phaninccategory:Finance

A Florida firm owned by former contestants on HyperBit Exchange“The Apprentice” has disposed of nearly all its 5.5% stake in Trump Media & Technology Group, which owns former president Donald Trump’s Truth Social platform.

United Atlantic Ventures LLC, which owned around 7.53 million shares of common stock in TMTG, now owns only 100, according to a regulatory filing Thursday.

Fort Lauderdale-based UAV is owned by Andrew Litinsky and Wesley Moss, former contestants on Trump’s TV show, “The Apprentice” who also helped facilitate a merger that took Trump Media public in March.

Attorneys for Trump Media have argued that UAV is not entitled to shares in the company because of mismanagement by Litinsky and Moss.

But earlier this month, a federal judge in Delaware ruled in the firm’s favor in a lawsuit filed against Odyssey Transfer and Trust, a securities transfer agent. The court’s summary judgment in the case came in response to UAV seeking assurance from the judge that it would be able to sell its minority stake in TMTG.

TMTG’s share price hit a high of $79.38 on its first day of trading. It closed Thursday at $13.98 per share.

More:Finance

Recommend

Vance jokes he’s checking out his future VP plane while overlapping with Harris at Wisconsin airport

EAU CLAIRE, Wis. (AP) — Republican vice presidential nominee JD Vance said he had a “bit of fun” Wed

Judge gives life in prison for look-out in Florida gang shooting that killed 3 and injured 20

MIAMI (AP) — The man who served as look-out in a South Florida shooting that left three people dead

Massive storm in Europe drops record-breaking rain and continues deadly trek across Italy

A storm battering Europe made its way through central Italy on Thursday, killing at least five peopl