Major Trump Media shareholder ARC Global unloads nearly all DJT stock

Core Viewpoint - A significant shareholder of Trump Media, ARC Global Investments II, has sold nearly its entire stake, reducing its ownership from over 11 million shares (5.4%) to just 30,147 shares (0.01%) as per SEC filings [1][2]. Group 1: Shareholder Actions - ARC Global Investments II and its manager, Patrick Orlando, no longer own more than 5% of Trump Media stock following a substantial sell-off [1]. - The SEC filing indicates that the actions leading to this change occurred on September 30, although the specific timing of the stock sale remains unclear [4]. - The diminished stake of ARC is now valued at approximately $850,000 [3]. Group 2: Legal and Market Context - A Delaware judge ruled in mid-September that Trump Media breached an agreement with ARC, necessitating the granting of additional shares to ARC [3]. - Trump Media experienced a significant sell-off in late summer, with stock prices nearing post-merger lows by the end of September, but saw a recovery in October [5]. - The stock rally in October is attributed to the upcoming presidential election, with many retail investors reportedly buying shares to support Trump [6].