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

rapinodumping1

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

 

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Comments (3)
  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
    1. 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
  2. Willis

    Shouldn’t it be called Post-Mortem Nation at this point?


    Reply

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