GameStop boss unloads $60m in shares
GameStop director Leonard Riggio has sold 2.3 million of his GameStop shares, bringing him in over $60 million. As a result, his ownership of the retail giant decreased from 6.9 to 5.5 percent. Reggio is also a board member and the founder of the Barnes & Noble bookstore chain. The large sale isn’t worrying analysts, apparently, but last time Reggio sold shares, as Gamasutra points out, he did just before the stock went on a slump and decreased 60 percent in value. Makes one wonder.
Tags: gamestop
October 13th, 2009 at 5:05 pm
I’m not surprised that people are beginning to wonder. Even if he hadn’t done this before, it’s suspicious even to warrant attention.