Tuesday, November 13, 2007

Paul Allen Sells More DWA Stock

So...wouldn't have Mr. Allen been better off waiting? Until after Shrek the Third sells millions of DVDs and the stock bounces up?

SKG Inc on Tuesday said Microsoft Corp co-founder Paul Allen sold 2.4 million DreamWorks shares, valued at $75 million, after unloading about 14 million shares this summer.

I mean, does this make sense?

A spokesman for Allen said the reduction in his Dreamworks Animation stake to now under 5 million shares was part of an ongoing effort to rebalance his portfolio.

Okay, I can get behind rebalancing, but isn't it just as easy to rebalance after the stock bounce?

There is going to be a stock bounce, isn't there?


Anonymous said...

I once heard a stock analyst say something wise about Microsoft stock and the big stockholders like Bill Gates and Paul Allen, "I'll start buying when the insiders stop selling." Seems appropriate here too.

Anonymous said...

stick to animation topics. obviously stock market predictions are not your thing.

Anonymous said...

Yeah, Steve, it doesn't have any relevance to animation when the guy who was the major financial investor at the founding of one of the biggest animation studios sells off a huge chunk of his shares.

And that Pixar/Disney buy-out thingy, no relevance either. We animation types should remain ignorant of the business behind our craft.

Anonymous said...

smartass anony #3. The comment #2 was in reference to Steve talking about a stock bounce or reading stock charts. Not the lack of importance of execs selling shares or companies buying companies. Bit of a difference there.

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