Algorhythm Holdings, Inc. (NASDAQ:RIME) Major Shareholder Milton C. Ault III Sells 17,733 Shares

Algorhythm Holdings, Inc. (NASDAQ:RIME) major shareholder Milton C. Ault III sold 17,733 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $0.58, for a total value of $10,285.14. Following the sale, the insider now directly owns 1,649,159 shares of the company’s stock, valued at approximately $956,512.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Algorhythm Stock Performance

Shares of Algorhythm stock traded down $0.02 during midday trading on Tuesday, reaching $0.56. 92,875 shares of the company’s stock traded hands, compared to its average volume of 244,189. Algorhythm Holdings, Inc. has a 12 month low of $0.35 and a 12 month 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.