Proactive Investors - Run By Investors For Investors

Investors ditch after CEO sells half a million shares

The news drove the sock more than 15% lower Wednesday
Patrick Byrne
Patrick Byrne (pictured) sold the shares in a series of transactions at prices between $12.40 and $13.91 apiece Inc (NASDAQ:OSTK) shares continued to fall Thursday after an SEC filing Wednesday revealed that its CEO sold 500,000 shares of stock this week.

Patrick Byrne unloaded the shares in a series of transactions at prices between $12.40 and $13.91 apiece. The news drove the stock more than 15% lower Wednesday, closing at $10.87.

READ: Online discount retailer drops on disappointing 4Q results

Shares of the e-commerce retailer have continued to fall Thursday, sliding another 5.5% to $10.27.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

View full OSTK profile View Profile

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use