Lululemon (LULU) Chairman Dennis Wilson sold $49.5M worth of the company's stock as part of a...


Lululemon (LULU) Chairman Dennis Wilson sold $49.5M worth of the company's stock as part of a prearranged 10b5-1 plan on Friday, the day that the board was notified that CEO Christine Day intended to leave. Shares plummeted 17% on Tuesday after Lululemon announced Day's departure the day before. Wilson had no influence on the trades that were made, Lululemon said.

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Comments (3)
  • rambler1
    , contributor
    Comments (1024) | Send Message
     
    Somebody has influence.
    13 Jun 2013, 07:10 AM Reply Like
  • Deja Vu
    , contributor
    Comments (1817) | Send Message
     
    Yeah, right.
    13 Jun 2013, 07:28 AM Reply Like
  • MtnWolf
    , contributor
    Comments (78) | Send Message
     
    It isn't just LULU there are a lot of other stocks w/ high valuations - in some cases ridiculous valuations - think CRM and others in the CF
    [Cloud Frenzy] where insiders are shoveling out stock as fast as they can. Maybe just a small segment of an overall market that is essentially efficiently valued per the Bernanke QE's, but this small segment is 1999 all over again. It used to take an entire generation for speculators to forget the errors of the prior cycle......now we do it in 14 years. Time compression, of which HFT is the ultimate example. No wonder fundamental hedge funds are struggling. They have good longs and hedge them w/ air shorts, but the short side is not working, thanks to Wall St. sell side which is as pathetically corrupt and self serving as ever. Nothing ever changes, including the totally ineffective enforcement policies of a Govt. which dreams up useless regulations and staffs the agencies with incompetent bumblers of which the SEC is the most egregious example. Wait: the IRS has gone beyond bumbling so they are in a class all alone.
    13 Jun 2013, 07:41 AM Reply Like
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