ARC Global Investments II Reduces Stake in Trump Media

ARC Global Investments II, a major shareholder in Trump Media & Technology Group, has drastically reduced its stake from over 5% to about 0.01%, as documented in recent SEC filings. This move follows a Delaware court ruling that Trump Media breached an agreement with ARC Global, requiring the company to transfer over 500,000 additional shares to ARC Global before a lock-up period expired. Patrick Orlando, the former CEO of Digital World Acquisition Corp. and manager of ARC Global, was ousted before Trump Media went public. Following Trump's election victory, the company's stock surged, with insiders including Trump Media's CFO, selling shares worth millions. Despite this, Trump maintains a 53% stake in the company and has reiterated his intention to retain his shares. These events, along with the volatile stock performance, raise concerns about insider confidence in Trump Media's future prospects.