I would imagine he already has property, and im betting its a very nice one.
Or, he could realise the price is jacked so much he cant resist taking up the premium the market is offering. Some say the stock is overvalued by 25-30%. If thats the case thats 2 million dollars in premium he cashed out on.
Were talking 6.5 million dollars representing about 40% of his share ownership that he sold. And your saying he did it because he wants to buy a property? Google it then. There are magazines that track the property purchase of the rich and famous. The CEO of CBA wouldn't almost certainty make the spread of a glossy magazine if he bombed 6 million on a waterfront.
No. He has cashed out
CBA Price at posting:
$139.21 Sentiment: Sell Disclosure: Not Held
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