Nvidia Board Director Mark Stevens sold about 4.2 million of his shares, netting him around $1 billion in cash, almost exactly two months before Jensen Huang was accused of having “close ties” to an alleged Chinese spy.
According to Moneywise.com, Stevens started the sale from August 31 to September 2, when Nvidia stock hovered between $220 and $226, which made him $411 million. The next tranche, totaling $236 million, came in the next couple of days as Nvidia traded from $227 to $234.
The final sale happened on September 18 at around $220 per share, making Stevens approximately $300 million. These three transactions would have made him somewhere around $947 million.
Are you sure about that? The “news place” know what will happen, they could sit on the story giving themselves time to short the stock. The trading is potentially worth far more to them than the story, if it stays under wraps till they break it. That would be worth the risk.