Algorhythm Holdings, Inc. (NASDAQ:RIME) Major Shareholder Milton C. Ault III Sells 25,300 Shares

Algorhythm Holdings, Inc. (NASDAQ:RIME) major shareholder Milton C. Ault III sold 25,300 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $0.62, for a total value of $15,686.00. Following the completion of the sale, the insider now owns 1,749,000 shares in the company, valued at approximately $1,084,380. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Algorhythm Stock Performance

Shares of Algorhythm stock remained flat at $0.60 during midday trading on Wednesday. The company had a trading volume of 49,493 shares, compared to its average volume of 248,032. Algorhythm Holdings, Inc. has a one year low of $0.35 and a one year high of $1.97.

Algorhythm Company Profile

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.