Koss family and company's execs cash in $44 million in stock during short squeeze frenzy

  • 📰 CNBC
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Executives, directors and members of the Koss family sold more than $44 million in stock in Koss Corp. over the past week as shares soared from the retail-investor buying frenzy.

Members of the Koss family, who own about 75% of the Milwaukee-based maker of headphones, sold $31 million of stock, according to filings with the Securities and Exchange Commission.

Within the family's sales, Michael Koss, who serves as president and CEO of the company, sold $13.3 million worth in stock, exercising options on some shares for a net of $12.9 million. That includes some $3.6 million worth of shares that were held in a trust for which Michael Koss and John Koss Jr. were co-trustees.

. The company's stock had short interest of over 35% before its increase, putting it on many lists of most heavily shorted stocks. By buying the shares, the traders hoped to force short sellers to cover their positions at a loss and abandon the trades., he or she borrows the shares with the belief its price will fall. Then, the investor can buy the stock at a profit.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Good for them, they make a good product

Very smart - holding the majority of the company, in the period after earning they can trade, and having to do nothing with the meme stock mania their company got swept into....

Thank you wsb for making us rich lmao

lol $gme bagholders giving more money to the rich

𝗕𝗲𝗹𝗶𝗲𝘃𝗲 𝗶𝘀 𝗲𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹 𝗜 𝗴𝗮𝘃𝗲 𝘆𝗼𝘂 𝗺𝘆 𝘁𝗿𝘂𝘀𝘁 𝗮𝗻𝗱 𝘆𝗼𝘂 𝗱𝗶𝗱𝗻’𝘁 𝗯𝗿𝗲𝗮𝗸 𝗶𝘁 𝘆𝗼𝘂 𝗮𝗿𝗲 𝘄𝗵𝗼 𝘆𝗼𝘂 𝘀𝗮𝘆 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗜’𝗹𝗹 𝗸𝗲𝗲𝗽 𝗹𝗲𝘁𝘁𝗶𝗻𝗴 𝗽𝗲𝗼𝗽𝗹𝗲 𝗸𝗻𝗼𝘄 𝘁𝗵𝗮𝘁 𝘆𝗼𝘂 𝗮𝗿e the best expert trader maiyarova

Smart.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines