Jump to content
  • Sign Up
Sign Up To Remove Ads! | Purchase An Ad Slot!

Archived

This topic is now archived and is closed to further replies. Want this topic removed from the archive?

Cinnamon

Whoa! Soros Had A $42 Million Short Open On MGM

Recommended Posts

October 9, 2017 William Craddick On Tuesday, September 5th, 2017, the board of MGM Resorts International decided to approve a $1 billion share repurchase program. At $17.7 billion today, the program represented a significant portion of its current market cap. By the end of the week, MGM’s CEO, James Murren, had coolly divested himself of 80% of the shares he owned in his company. The divestment came just days before the ex-dividend date on September 8th, 2017. The sales were originally disclosed in a document filed with the Securities and Exchange Commission (SEC).

Murren had previously divested 57,269 shares on July 31st and August 9th, 2017. It’s currently unclear why Murren chose to sell when he did. To date, MGM’s stock has not experienced a significant decline in value due to the repurchasing program. It could be interpreted to run against the company’s interests for the CEO to convey a sense of urgency in the selling of his shares by disposing of them immediately after the commencement of his company’s share repurchase program.

It’s also strange that the CEO of a company would sell more than half of their stake (let alone 80%) in the company that they represented. Mr. Murren and his fellow board members were not the only speculators who were bearish on MGM’s prospects. Billionaire investor George Soros also bought $42 million worth of puts on the company, according to SEC filings from mid August.

 

Share this post


Link to post
Share on other sites

And farther down the rabbit hole we go, where it stops nobody knows.  They must think we are stupid or something.

Share this post


Link to post
Share on other sites
9 minutes ago, God Man said:

And farther down the rabbit hole we go, where it stops nobody knows.  They must think we are stupid or something.

jaynodaot.gif.98feb7b625b99a085ead2a93c054c621.gif

Share this post


Link to post
Share on other sites
notgoingtorespond
1 hour ago, God Man said:

And farther down the rabbit hole we go, where it stops nobody knows.  They must think we are stupid or something.

They know that no one is going to do a damn thing about it.

Share this post


Link to post
Share on other sites

 

1 hour ago, God Man said:

And farther down the rabbit hole we go, where it stops nobody knows.  They must think we are stupid or something.

Just now, notgoingtorespond said:

They know that no one is going to do a damn thing about it.

They are getting bolder by the day aren't they?

Share this post


Link to post
Share on other sites
notgoingtorespond
Just now, God Man said:

 

They are getting bolder by the day aren't they?

Just look at who they have running the investigation. They control everything we see and hear.

Share this post


Link to post
Share on other sites

×