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

Milton C. Ault III, a director of Algorhythm Holdings, Inc., sold a total of 74,750 shares of common stock in open market transactions between September 16 and September 18, 2024.

Summary

• Milton C. Ault III, a director of Algorhythm Holdings, Inc. (RIME), reported the sale of common stock in a Form 4 filing with the SEC.
• The sales occurred over three days, from September 16 to September 18, 2024.
• On September 16, 2024, 25,300 shares were sold at a weighted average price of $0.6195 per share.
• On September 17, 2024, 34,201 shares were sold at a weighted average price of $0.6551 per share.
• On September 18, 2024, 15,249 shares were sold at a weighted average price of $0.6066 per share.
• Following these transactions, Ault Lending, LLC, a wholly-owned subsidiary of Hyperscale Data, Inc., beneficially owns 1,699,550 shares.
• Mr. Ault, as Executive Chairman of HSD, is deemed to have voting and investment power over these shares.

Sentiment

Score: 4

Explanation: Insider selling can create negative sentiment, but the size of the transactions is relatively small. The market will likely react neutrally to slightly negatively.

Negatives

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

Risks

• Continued selling pressure from the director could further depress the stock price.

Industry Context

Insider selling is a common occurrence, and the impact on the stock price depends on the size of the sale relative to the company's market capitalization and trading volume, as well as the overall market sentiment.

Stakeholder Impact

• Shareholders may react negatively to the insider selling.

Key Dates

Keywords

Form 4, Algorhythm Holdings, RIME, Milton C. Ault III, Share Sales, Insider Trading, Ault Lending LLC