Kirk Kerkorian says he's selling 14 million GM shares at $33 (U.S.) each

Nov 23, 2006 3 Replies
J


Kirk Kerkorian says he's selling 14 million GM shares at $33 (U.S.) each


> Associated Press
> DETROIT ? Dissident General Motors Corp. shareholder Kirk Kerkorian said
> Wednesday that he will slash his stake in the troubled auto maker by selling
> 14 million shares of its stock this week.
> Mr. Kerkorian now owns 56 million shares, or 9.9 per cent of GM, according to
> the LionShares.com financial website. The sale would reduce his stake to 42
> million, or 7.4 per cent of the company's 565.5 million outstanding shares.

Sir Kirk is getting out!

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A

And what did he pay for those shares? Somewhere in the low $20s?

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M

Actually that is not factual. Now that GM stock price is up again, he is merely doing what I did with 5,000 shares of my GM stock, selling off the low price stock we bought over the past year. The same old same old, buy low sell high and reduce ones basis on long term holdings. LOL

mike

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M

He did what George Sorous did to silver in Europe to become a billionaire. He drove a stocks prices down by selling huge numbers of shares when there market share dropped then bought huge numbers of shares to push it back up. Now he is reaping the harvest. ;)

mike

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