Home / Business and Economy / Intel CEO Buys $9.71M in Shares Amid Stock Plunge
Intel CEO Buys $9.71M in Shares Amid Stock Plunge
5 Nov
Summary
- CEO Lip-Bu Tan acquired 150,000 Intel shares for $9.71 million.
- The purchase occurred as Intel's stock price dropped nearly 50%.
- Transactions took place at prices ranging from $64.705 to $64.735.
Intel Chief Executive Lip-Bu Tan has made a substantial investment in the chipmaker, acquiring 150,000 shares valued at around $9.71 million. This significant insider purchase was executed through multiple transactions within a narrow price range, averaging $64.73 per share. The timing of Tan's acquisition is notable, occurring as Intel's stock has experienced a steep decline, falling nearly 50% in the month leading up to this filing. The U.S. Securities and Exchange Commission received the disclosure detailing the number of shares bought and the prices paid, although no specific explanation for the transaction was provided in the filing.
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