Algorhythm Holdings, Inc. (NASDAQ:RIME) Major Shareholder Milton C. Ault III Sells 35,600 Shares

Algorhythm Holdings, Inc. (NASDAQ:RIME) major shareholder Milton C. Ault III sold 35,600 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $0.49, for a total transaction of $17,444.00. Following the completion of the sale, the insider now directly owns 1,414,610 shares in the company, valued at $693,158.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Algorhythm Price Performance

NASDAQ RIME traded up $0.01 during mid-day trading on Tuesday, reaching $0.48. 104,333 shares of the stock were exchanged, compared to its average volume of 240,635. Algorhythm Holdings, Inc. has a 1 year low of $0.35 and a 1 year high of $1.97.

About Algorhythm

Algorhythm Holdings, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; connected vehicle karaoke devices; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware.