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Grubhub CEO sells stock before making damaging statements

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Grubhub CEO sells stock before making damaging statements

#1
The optics of this stock sell off seem a bit odd given the relative time to him making statements that have reduced the value of said stock.

https://www.sec.gov/Archives/edgar/data/1556458/000120919116148881/xslF345X01/doc4.xml

Couldn't he just buy them back at lower value?

Re: Grubhub CEO sells stock before making damaging statements

#6
post #4

Whatever you're reaching for here, it's quite a reach. He sent an internal email about politics and it backfired. It's not like he gave a press conference announcing the company was in financial trouble.

It was the day before. Your point about it being an email is exactly my point this could be taken as him knowing something that nobody else did and thus selling his shares. Just looks odd

Re: Grubhub CEO sells stock before making damaging statements

#7
post #6
post #4

Whatever you're reaching for here, it's quite a reach. He sent an internal email about politics and it backfired. It's not like he gave a press conference announcing the company was in financial trouble.

It was the day before. Your point about it being an email is exactly my point this could be taken as him knowing something that nobody else did and thus selling his shares. Just looks odd

In this the "something else" would be knowing that the CEO is about to send a stupid email the next day?

If he anticipated it would leak and tank the stock wouldn't he have more likely just run it by some folks and sent something less poorly worded?

Re: Grubhub CEO sells stock before making damaging statements

#9
post #4

Whatever you're reaching for here, it's quite a reach. He sent an internal email about politics and it backfired. It's not like he gave a press conference announcing the company was in financial trouble.

and they're still above where they were five days ago....

a lot of tech stocks took a beating today[1]. the stock sale, price and email are pretty unrelated

[1] http://www.marketwatch.com/story/tech-stocks-plunge-for-seco...

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