Leonard Riggio, chairman of the board at Barnes & Noble and director at GameStop, may not be on your radar. But the exec's unloading of 2.3 million shares of GameStop for $60.2 million was a financial blip with stock watchers.
According to a report from Barron's, via Gamasutra, that sale could be a sign of impending bad financial news for GameStop. The original report draws comparisons to a previous stock sell off by Riggio, prior to a hefty drop in the company's value.
Riggio still has 9.1 million shares in the game retailer, so it wasn't a total bail out. But maybe GameStop's holiday fortunes won't be as vast as previously expected. Curse you Modern Warfare 2 for delaying everything! You're the source of everyone's troubles!
GameStop Director Sheds $60 Million In Shares [Gamasutra]