Live Nation CEO Loses Millions In Hasty Stock Dump-Off…

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Does anyone at the top believe in this company?

Last year, exiting Live Nation chairman Irving Azoff missed out on tens of millions of dollars after hastily dumping nearly 2 million shares of LYV (the stock has since tripled in value).  But now, it turns out that the CEO himself, Michael Rapino, sacrificed roughly $3.5 million in his own hasty dump-off last year.

The costly miscalculation looks like this: in August of last year, Rapino shed 640,000 shares, or roughly 40% of his available holdings, for a handsome, near-$12 million payout.  The dump-off was executed at $18.40, perhaps viewed as an unbeatable peak at the time, and a great time to cash out.

Since that point, the stock has risen to $23.89, with the potential to gain even more. 

$23.89 – $18.40 = a difference of $5.49

$5.49 x 640,000 = $3,513,600.

 

rapinoform4

 

3 Responses

  1. Don Cavi

    Soooo…maybe im reading these numbers wrong but it seems your saying he’s supposed to be sad about ONLY getting 12 million instead of 15 million? Thats a problem I would love to have…Rock on Mike! Drinks on you at the next bar hop…

    Reply
    • Paul Resnikoff
      Paul Resnikoff

      I think there’s a little more to it than that…

      Let’s see where this stock goes, and how the insiders react. It’s starting to cool down; throw some insider dumping and there could be issues on LYV.

      Reply

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