News: GameStop Executives Sell Off 23% Of Their Stocks

GameStop executives recently sold huge amounts of stocks at about $43.63 per stock. The Executive Chairman sold 150 thousand out of about 381 thousand, CFO sold 20 thousand out of about 241 thousand shares, Vice-President of International sold about 21,000 of his share of 191,000, and the director sold 1800 of about 20,000.

GameStop is arguably the largest store in the video gaming industry, that doesn’t exclusively base itself online. Many people speculate that the executives are preparing to abandon ship and the selling of these stocks are the start of it. Just from these sales the value of each stock dropped from by roughly a dollar and a half. The company claims to be hiring large amount of more employees in the coming months, and the money is to assist in funding for that.

The executives sold about 23.5% of the stock they owned within these sales, which would suggest they are either taking advantage of what they believe to be a good value for the stock, or they are beginning to leave the company while they can still sell for a fair amount of money.

The reason this is being discussed is because, while it is common for executives to sell chunks of the stocks they own, it is not common for several executives to sell high amounts all at the same time. This definitely raises suspicions and is the reason people have begun to suggest that it is a sign GameStop is going to begin falling in the same fashion as BlockBuster.

What are your thoughts on these sales, are they just casual sales or suggesting otherwise? Leave a comment in the comments section to let us know what you think.

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