Insider Selling: Algorhythm Holdings, Inc. (NASDAQ:RIME) Major Shareholder Sells 107,016 Shares of Stock

Algorhythm Holdings, Inc. (NASDAQ:RIME) major shareholder Milton C. Ault III sold 107,016 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $0.51, for a total value of $54,578.16. Following the transaction, the insider now directly owns 1,452,984 shares in the company, valued at $741,021.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Algorhythm Trading Up 2.6 %

Shares of RIME stock opened at $0.48 on Wednesday. Algorhythm Holdings, Inc. has a fifty-two week low of $0.35 and a fifty-two week 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.