IPFS News Link • Stock Market
DraftKings Insiders Dump $596 Million Of Stock On Unsuspecting Robinhood Daytraders
• https://www.zerohedge.com by Tyler DurdenIt turns out, as more than 100,000 Robinhood daytraders panic bought DraftKings since its Nasdaq debut in April, soaring 237% in months - Liberman and other insiders dumped a whopping $596 million worth of shares.
On the pump, Liberman sold $31 million worth of stock, with about $15 million left. CEO Jason Robin sold $70 million worth of stock, while director Hany Nada liquidated $37 million.
Clearly, by now, readers should understand the parabolic rise in DraftKings' shares was nothing more than a spectacular pump - as what comes next is likely the dump.