Insider reduces its major stake in Trump's media firm

A major insider in former U.S. President Donald Trump's media company has all but eliminated its stake following the recent end of selling restrictions.

United Atlantic Ventures has cut its 5.5 per cent stake in Trump Media & Technology from over 7.5 million shares to 100 shares, according to a filing late on Thursday. United Atlantic Ventures had been one of the company's top three shareholders.

Shares of Trump Media have been volatile over the past five trading sessions following the end of insider trading restrictions related to the company's March stock market debut.

Republican presidential candidate Trump owns about 57 per cent of the company.

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