GameStop boss unloads $60m in shares
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October 13th, 2009
GameStop director Leonard Riggio has sold 2.3 million of his GameStop shares, bringing him in over $60 million. As a result, his ownership of the retail giant decreased from 6.9 to 5.5 percent. Reggio is also a board member and the founder of the Barnes & Noble bookstore chain. The large sale isn’t worrying analysts, apparently, but last time Reggio sold shares, as Gamasutra points out, he did just before the stock went on a slump and decreased 60 percent in value. Makes one wonder.
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