Form 4: Algorhythm Holdings Director Milton C. Ault III Sells Shares in Open Market

Milton C. Ault III, a director of Algorhythm Holdings, Inc., reported selling shares of common stock in open market transactions on October 2nd and 3rd, 2024.

Summary

• On October 2, 2024, Milton C. Ault III, a director of Algorhythm Holdings, Inc. (RIME), sold 4,230 shares of common stock at a weighted average price of $0.4686 per share.
• The sale prices on October 2nd ranged from $0.4551 to $0.4851 per share.
• On October 3, 2024, Ault sold an additional 3,000 shares at a weighted average price of $0.4647 per share.
• The sale prices on October 3rd ranged from $0.4509 to $0.4948 per share.
• Following these transactions, Ault indirectly owns 1,357,000 shares through Ault Lending, LLC.
• Ault Lending, LLC is a wholly-owned subsidiary of Hyperscale Data, Inc. (HSD).
• Mr. Ault is the Executive Chairman of HSD and has voting and investment power over the securities held by Ault Lending.

Sentiment

Score: 4

Explanation: The sentiment is neutral to slightly negative. Insider selling can sometimes be interpreted negatively by the market, but without more context, it's difficult to assess the true impact.

Negatives

• A director selling shares could be perceived negatively by investors.

Risks

• Continued selling by insiders could put downward pressure on the stock price.

Industry Context

Insider sales are a common occurrence, and their impact on stock price can vary depending on the size of the sale, the reason for the sale, and overall market conditions.

Stakeholder Impact

• Shareholders may react to the insider selling, potentially impacting the stock price.

Key Dates

Keywords

Algorhythm Holdings, RIME, Milton C. Ault III, share sale, insider trading, Ault Lending, Hyperscale Data, HSD