TradingKey – Micron’s CEO cashes out by selling shares at high prices, but the share reduction plan is not yet over.
On July 28, Eastern Time, Micron Technology ( MU) continued its downward trend, briefly falling below the $800 mark to a low of around $790, hitting a new two-month low. Micron’s stock price ultimately fell nearly 9% to close at $820.53, making investors marvel at CEO Sanjay Mehrotra’s high-price selling while raising concerns about potential future sell-offs.
Micron stock price chart, Source: TradingView
Under the Rule 10b5-1 trading plan, Mehrotra sold another 40,000 shares of Micron stock on July 24 at an average price between $906 and $965, cashing out approximately $29 million. Notably, Micron’s stock price soared above…
