• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Money Profit News
No Result
View All Result
Home Breaking News

As Musk Sells, Uber CEO Buys $9 Million in Shares

by
November 21, 2021
in Breaking News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
Text size

Uber CEO Dara Khosrowshahi made a $9 million purchase of his company’s shares on Monday.

Riccardo Savi/Getty Images for Concordia Summit


Tesla

CEO Elon Musk’s stock sales have investors buzzing about corporate insider stock transactions. But not every transportation CEO is selling.

Related Posts

Recession stars: The best stocks in every industry during economic downturns

RH shares slide after company lowers its outlook for the year

Longtime Google exec Nick Fox to lead commerce business following Ready’s departure to Pinterest

Amazon wants us to believe the robots are coming– but most people won’t find them useful


Uber Technologies

(ticker: UBER) CEO Dara Khosrowshahi made a $9 million purchase of his company’s shares on Monday. Though the reopening has seen a recovery for Uber’s ride-sharing business, the stock has struggled, down some 14% in 2021 and trading below its 2019 initial-public-offering price of $45.

Earlier this month, Uber reported its first quarterly profit on adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda. However, using generally accepted accounting principles, it still posted a net loss of $2.4 billion. The company blamed the GAAP loss on a $3.2 billion unrealized pretax loss from its stake in Chinese ride-sharing firm


DiDi Global

(DIDI).

Khosrowshahi bought 200,000 shares at an average price of $44.92, according to a filing with the Securities and Exchange Commission. He now owns about 1.18 million. It was his first open-market purchase of shares since he bought 250,000 in November 2019.

Uber didn’t return requests from Barron’s seeking comment from the company or the executive.

Khosrowshahi’s purchase helped push Uber stock higher Tuesday, but only fleetingly. Tesla stock (TSLA), on the other hand, mostly held up as Musk disclosed a series of stock sales, after conducting a


Twitter

poll in which users voted for him to sell 10% of his stake. Keep in mind that he’s also exercising expiring stock options, so his sales ostensibly will help pay options-related taxes.

Write to Connor Smith at connor.smith@barrons.com

Next Post

Warren Buffett keeps selling billions worth of stock in this frothy market — here are 3 new places where he's finding value

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

Longtime Google exec Nick Fox to lead commerce business following Ready’s departure to Pinterest

by
June 29, 2022
0

Nick Fox, vice president of product and design for Search and Assistant. Longtime Google exec Nick Fox take over the...

Read more

Longtime Google exec Nick Fox to lead commerce business following Ready’s departure to Pinterest

RH shares slide after company lowers its outlook for the year

Recession stars: The best stocks in every industry during economic downturns

Amazon wants us to believe the robots are coming– but most people won’t find them useful

How To Buy Gold Online

Recession stars: The best stocks in every industry during economic downturns

Load More

All rights reserved by www.moneyprofitnews.com

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

moneyprofitnews