Shares of former U.S. President Donald Trump's media company sprang back over 6% on Wednesday, rebounding from all-time lows after restrictions on insider selling expired last week.
Traders have exchanged an average of $275 million worth of Trump Media shares a day since the insider trading restrictions ended, higher than the average daily turnover of $188 million for the rest of September, according to LSEG data. No insiders have filed disclosures of share sales. United Atlantic Ventures and Patrick Orlando, whose fund ARC Global Investments II sponsored the blank-check company that merged with Trump Media in March, together own about 11% of Trump Media shares, according to a company filing.
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