Posted on 10/10/2017 9:39:10 PM PDT by TigerClaws
On Tuesday, September 5th, 2017, the board of MGM Resorts International decided to approve a $1 billion share repurchase program. At $17.7 billion today, the program represented a significant portion of its current market cap. By the end of the week, MGM’s CEO, James Murren, had coolly divested himself of 80% of the shares he owned in his company. The divestment came just days before the ex-dividend date on September 8th, 2017.
The sales were originally disclosed in a document filed with the Securities and Exchange Commission (SEC). Murren had previously divested 57,269 shares on July 31st and August 9th, 2017.
It’s currently unclear why Murren chose to sell when he did. To date, MGM’s stock has not experienced a significant decline in value due to the repurchasing program. It could be interpreted to run against the company’s interests for the CEO to convey a sense of urgency in the selling of his shares by disposing of them immediately after the commencement of his company’s share repurchase program. It’s also strange that the CEO of a company would sell more than half of their stake (let alone 80%) in the company that they represented.
Mr. Murren and his fellow board members were not the only speculators who were bearish on MGM’s prospects. Billionaire investor George Soros also bought $42 million worth of puts on the company, according to SEC filings from mid August.
https://disobedientmedia.com/2017/10/what-was-going-on-with-mgm-resorts-in-september/
Related SEC document:
https://www.sec.gov/Archives/edgar/data/1029160/000114036117031995/0001140361-17-031995-index.htm
And, the Weinstein sex stuff kinda shoved Las Vegas off center.
Interesting. If Weinstein had a role in the prosperity and profitability of MGM, then the rational for the NYT piece becomes a bit more understandable. There is no doubt that the carnage in Las Vegas will hurt big operators there such as MGM. However as conniving as Soros may be, it is fantasy to believe he knew this lunatic Paddock would do what he did. However would not put it past someone ( him or someone like him) to know all about Weinstein, to know the NYT was about to publish or be encouraged to publish the story, be aware that MGM would be hurt badly and buy the $42 million worth of puts. If the stock declines 5%, he will make over $500 million.
Jeff Sessions will repurpose Mueller’s team to tackle the matter.
..... sarc
“However as conniving as Soros may be, it is fantasy to believe he knew this lunatic Paddock would do what he did.”
Unless he was running Paddock. It’s not like Soros isn’t running a shadow coup with antifa and the like. ICYMI, the left is trying to bring this country to crisis through violence.
Soros Fund Management LLC's bought puts on MGM per 13F filing
Looks like many lefties knew in advance, so the left wing extremist fired the opening shots in civil war II.
Jeff must be sunning himself in Nantucket by now. He certainly seems to have nothing in common with any of us anymore. And, he’s already solved all the problems of the world, except for the main ones he was hired to solve.
Now poor thing has nothing to do, apparently.
Pass the sun lotion.
If Soros had the info then I'm very sure several other democrats & possibly some other deep state bigwigs knows & are involved with it as well, but being the greed pig that he is he couldn't miss the opportunity to make about $20m or more on a guaranteed profit from the negative news sure to follow.
Without further elaboration I think we have enough evidence to lock up Soros for terrorism & sedition based off these facts.
I've seem more factiful speculation regarding 9/11 stuff compared to this data and this to me is more than a smoking gun; its more like a smoking holocaust oven that's still lit with bodies inside and his hands on the door handles!!!
Where do they get the $ 42 million dollar number from?
Have seen document and have posted it here too on this site.
The position involves the right to sell the 1,350,000 shares at some price, but that position wouldn’t be worth 40 million.
Say he had the right to sell it at $ 32.5 per share and the stock goes down to $ 31.5 per share (I realize it is a little lower).
Right there he would make $ 1,350,000 plus whatever time and sentiment value there is based on when the expiration is. That isn’t 40 million in profit though.
Now if his fund has 1,350,000 contracts, not shares that would be another story.
He also may have holdings through other entities and holdings that he hasn’t had to disclose.
Pedosta’s nephew is a big shot in the LV FBI and Andrew McCabe s supposedly leading the investigation.
Look at the entry for MGM — it says a ‘put’ and in column 4 it lists a value of $42.242M.
These murders — and their coverup —
were meticulously planned by Soros and the
scurrilous FBI.
These murders — and their coverup —
were meticulously planned by Soros and the
scurrilous FBI.
Geary Daniel, Marilou Danley’s first husband is from ARKANSAS.
Hugely Anti-Trump.
Hmmm....
Okay, lets flesh some things out.
There are many reasons for a CEO to sell stock, but only one to buy. A lot of CEOs design a selling program that automatically will sell some stock at fixed periodic times to diversify their assets (most CEOs have the vast majority of their wealth tied up in stock and stock option grants). By setting the fixed selling schedule in advance they are immune from insider selling liabilities if they keep to the schedule. We’d need to check to see if that was in play here before we make assumptions.
As for King Pig Soros, keep in mind he runs his own Foundation hedge fund. A common strategy in a hedge fund is called the ‘Pair Trade’. In the same industry you go long a stock you think is undervalued and go short one in that industry you think is overvalued. I didn’t look at the filing of the holdings yet to see if this strategy is being used in the Gaming Industry so we’d need to look at the entire industry holdings he has in Gaming to see.
Title is totally misleading ... buying puts does not create a short position. It is a long position of a bearish nature.
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