> Virtually all of the sales were part of 10b5-1 plans, or prescheduled selling programs.<p>getting real tired of clickbait, anyone else? can we edit the title?
I'm not sure why this is newsworthy. Of course they did, they'd be foolish not to. They wanted to lock in some gains, especially since they were aware, just like the rest of the market, that their stock was overinflated because of the pandemic.
So they sold $500M in stock of a company that was worth over $50B at its peak last year... Has the underlying business even changed that much? Isn't it mainly just they were priced at a ridiculous multiple and that has corrected? People love the story of falling from grace though.
Could it have been due to anticipated blow back from issues related to the Tread+ (combined with the stock being clearly over-valued)? I can't tell if the timelines line up. It seems news of a child dying due to injuries from their product came many months after the major stock sales made by execs. Is it possible they knew about these issues long before they were publicly addressed?