A regulatory filing shows that one of the major shareholders of Trump Media Technology Group (DJT) has sold almost all of his shares, but because he sold his shares early, he missed the gains brought by Trump's victory and therefore failed to catch the overwhelming wealth. According to information disclosed by the U.S. Securities and Exchange Commission (SEC), in the third quarter ending September 30, financial company ARC Global Investments II and its manager Patrick Orlando no longer held more than 5% of Trump Media's shares. It is reported that Orlando was the CEO of Digital World Acquisition Corporation (DWAC), with which Trump Media merged and went public through a special purpose acquisition company (SPAC). Currently, ARC Global, the sponsor of the merger, currently holds only 30,147 shares of DJT, accounting for about 0.01% of the company's common stock. DJT announced in early September that ARC owns more than 11 million shares, equivalent to 5.4% of the company's total outstanding shares.
On September 19, after the highly anticipated lock-up period ended, DJT's stock price subsequently fell to its lowest level since the company went public, as investors expected Trump to sell his shares. However, in reality, Trump did not sell off his holdings, and DJT applied for an injunction to prevent ARC Global from immediately selling its shares. But a judge in Florida stated that he would not issue the injunction and would ensure that ARC Global could sell or transfer its shares after the lock-up period ended on September 19. By Friday, the DJT shares held by ARC Global were worth only $850,000. If calculated based on a 5.4% shareholding, it would be valued at $330 million. It is notable that ARC Global's sell-off coincided with a surge in DJT's stock price. After entering October, as the 'Trump trade' heated up, DJT's stock price skyrocketed from $15 to a peak of $54. Analysts pointed out that although DJT's fundamentals remain long-term questionable, investors are betting on Trump winning the U.S. election, buying shares of the company to support him, while ARC Global's massive sell-off indicates they do not believe Trump can win the election. Additionally, over a month ago, another major shareholder, Atlantic Investment Company, also sold nearly all of its DJT shares. After sweeping the seven battleground states and defeating Harris, Trump reiterated that he had no plans to sell shares of the company and called for regulators to investigate the masterminds behind the speculation of this event.#BabyMarvinf9c7值得拥🈶 
