The stock price of Trump Media surges in active trading following the sale of shares by its co-founders.

• On Friday, shares of Trump Media were up more than 7% at noon after United Atlantic Ventures LLC sold off its nearly entire stake in the company the previous day.
• The UAV's decision was made following the expiration of a lock-up agreement on Sept 19., which prohibited majority shareholder former President Donald Trump and other early investors from selling their shares.
• After six consecutive trading days of decline, Trump Media shares ended their losing streak on Tuesday.

Nearly 11 million shares of were sold by major shareholder United Atlantic Ventures, LLC, resulting in a more than 7% increase in stock price as of 1 p.m. ET on Friday.

On Thursday, UAV, a partnership comprising of former "Apprentice" contestants Andrew Litinsky and Wes Moss, sold off almost all of its shares in Trump Media, leaving it with only 100 shares in the company, which also owns the former president's social media app Truth Social.

UAV has decided to sell its 5.4% stake after the lock-up agreement expired on Sept 19., which prevented majority shareholder Trump and other early investors from selling their shares. This makes UAV the only known company insider to sell off shares since then.

According to the SEC filing on Thursday, UAV did not reveal the amount it made from selling its shares. However, based on the price range that DJT has sold for since the lockup expired, UAV may have received between $128 million and $170 million for its stock.

Since the lockup restrictions expired six consecutive trading days ago, including a new 52-week low on Monday, Trump Media shares ended the day up more than 5% at $12.79 per share.

Trump stated that he has no intention to sell the nearly 57% of outstanding shares he owns.

Trump Media's success is contingent on Trump's popularity and continued use of Truth Social, as stated in previous regulatory filings.

Although the stock experienced a recent increase, as of 1 p.m. ET Friday, it had decreased by approximately 77% since its debut on the Nasdaq in late March following a merger with a special purpose acquisition company.