Business news: Eric Schmidt sell stock

[Esoteric Rogue]

Google Chairman Eric Schmidt is selling up to 42% of his Google shares.

Google stock price (~785) is high, maybe it's just a good time to liquidate a bit. 7,600,000 shares should be a nice 2.5 billion. Easy peasy.

The SEC filing does state "his long-term strategy for individual asset diversification and liquidity". Nobody seems to doubt that.

[therealevan]

I personally don't own any shares in google (a bit too expensive for my taste). That $2.5B is a nice payout

[Esoteric Rogue]

I think it's interesting how many people are speculating that bad times for Google must be imminent because he's selling. But that doesn't make much sense, since he's still letting the other 58% ride. Nobody expects Google stock to quadruple in value any time soon, so he might as well look for some higher returns, or even (heaven forbid) spend some money.

[therealevan]

The market reacts in really bizarre ways, an executive selling off lots of shares would be inducing for investors to sell off shares. There are a lot of investors out there I think that go into sell mode as soon as they read about anyone in management selling of shares, hoping to avoid shaky losses that might come soon after.

[Esoteric Rogue]

Google stock price (~785) is high, maybe it's just a good time to liquidate a bit. 7,600,000 shares should be a nice 2.5 billion. Easy peasy.

Well, at the end of the week, Google's up a titch: 792.89.

That's not the effect selling stock has in game