The chief financial officer of the company that owns Truth Social, President-elect Donald Trump’s social media platform, along with two other company insiders, has sold more than $16 million worth of the company’s stock.
The CFO, Phillip Juhan, sold the majority of the stock and previously said he would sell 400,000 shares by 2025.
Trump Media director Eric Swider and general counsel Scott Glabe were the insiders who sold fewer shares than Juhan.
Truth Social is known for having unusually high market capitalization, $6.3 billion, compared to just over $1 million in revenue in the third quarter of this year. It has been a volatile stock since it started trading in March of this year.
Juhan sold 320,000 shares on Friday at a price of $30.65 per share, or around $9.8 million worth, and later sold another 64,000 shares at $32.97 per share, another $2.11 million worth, on…
