Mike Cannon-Brookes has 76M shares in AGL. He paid about $8.60/share so he is sitting on a loss. However this loss of $1.40 x 76M is only a tad over $100M at todays price of $7.20/share and would not keep him awake at night. I think his main aim is to steer the company towards some sort of green energy hub which would assure him a seat at the table at any environmental talkfest.
Ordinary shareholders might be on a loss but hey we have to wear it. Just out of interest Blackrock sold 34 million shares at 80c less than they paid for them only a few months before so we are not the only mugs.
The power I put into the grid from my 30 panels earns me a measly 5c/kWh but the power I buy overnight costs 30c/kWh. No prize for guessing who the retailer is! The sooner I buy an EV the better because I will be charging it at home for free now that I am retired.
AGL Price at posting:
$7.02 Sentiment: Buy Disclosure: Held
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