If I start a company, or have shares in a company, and particularly if my salary is still also from this company, and I have opportunity to sell some or all of those shares to pay off my home loan, spruce up my super fund, and arrange finances such that I'm set for life, all whilst simultaneously upgrading my home, cars, and tuck some aside for a long cruise ship holiday, as well as enough to pay for my kids to go through uni, I would do the same. Then I can use my income to invest back into the company again, or other companies to diversify my assets, all whilst knowing that whatever investment decisions I make I'm still financially 'set' for life, and so are my kids.
If you can guarantee having $7 million today, but then also get the opportunity to roll a dice, and if it doesn't land on the three you can have $100 million, but if it lands on the 3 you have to give it all back and be left with nothing - what would you do? Personally, it's still a long road for me and my partner to get to retirement, so we'd lock in that $7 million.
Having said this, I'm still annoyed that all three of them would sell. It suggests that each of them knew they would sell, and colluded when and at what price that they'd sell, and I don't know if that's legal and/or ethical? It's certainly not a good look, and decreases my confidence in them.
DRO Price at posting:
69.5¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)