Sony's CEO caught selling more than half his stocks of the company

[Kovlak]

He's being accused of a pump and dump scheme with the stocks.

Nothing says confidence in Sony quite like that...

I'll be surprised if this doesn't lead to Hiroki Totoki's resignation.

Also Sony chief strategy officer Toshimoto Mitomo sold 25,000 shares of stock, representing around 18% of his total shares. He sold his shares at $21.02 as well, totalling $525,500.

There seems to be no honor among thieves.

Sony CEO Sells Over Half His Stock Following PlayStation Disc Announcement

In the days following PlayStation's announcement regarding physical game discs, Sony's CEO sold over half his stock in the company.

insider-gaming.com

 

[Boofy]

Appropriate site name to report on this

 

[ArchienineZXAdventArchienineZXAdvent's icon]

Even the CEO knows how angry the players are lol

 

[zombie100379]

 

[DjQuick2008]

all business top enders are corrupt.

 

[Then3lli]

Sony is doomed.

 

[MajorMachina]

You'd think the Captain would go down with his ship, but i guess not

 

[contrail_]

Not a good look, but maybe he just needed the money to build a bunker...

 

[DjQuick2008]

Not a good look, but maybe he just needed the money to build a bunker...

haha that would be about right or go to mars.

 

[beefbowl]

This seems like some fishy insider trading-esque scheme.

So like every top suit, he's corrupt. Not surprised lmao.

 

[ThunderBoy]

 

[Tsukishima Tsukishima]

Just about had it with all of this capitalism.

 

[Rocket2049]

i'm trying so hard to remain a sony fan...
but yeah wtf lol

 

[Majora Fi]

— Sony's CEO caught...
— Cheating on his wife?
— ...selling more than half his stocks of the company.

 

[Luxfin]

Cut to Sony going into panic mode after this adding more fuel to the proverbial fire. Meanwhile I'll be playing Black Sabbath's Paranoid over this dumpster fire considering that even the other subsidiaries didn't even know about the disc murdering until the announcement hit the internet harder than 2001 New York.

 

[PhaseJump]

Cashing out is no big deal, and retooling the physical disc factory infrastructure to ramp up parts for data centers will likely earn Sony even more and cover his ass, longer term.

 

[SamanthaSamantha's icon]

You know a ship's sinking when the rats start surfacing...

 

[Kovlak]

Cashing out is no big deal, and retooling the physical disc factory infrastructure to ramp up parts for data centers will likely earn Sony even more and cover his ass, longer term.

Inside trading is a crime.

 

[PhaseJump]

Inside trading is a crime.

You are implying it's insider trading.

He sold a pile of stock before the value went up. Hypothetically, he lost value. When is a good time to cash out?

 

[Kovlak]

You are implying it's insider trading.

He sold a pile of stock before the value went up. Hypothetically, he lost value. When is a good time to cash out?

No. He most likely cashed out most of his stock before the stock falls significantly.

Yuji Naka, the co-creator of Sonic the Hedgehog, was arrested and made a deal on charges of insider trading.

Japan doesn't look lightly upon that stuff.

 

[PhaseJump]

Cry babying about wealthy people selling their assets to get liquidity, while bitching about the economy being wretched is almost redundant.

Poor people whining about rich people, while everything sucks across the board. The same people likely need to cash out and buy shit in their day to day life, driving the economy farther than on paper money tied up in stock ever would.

This whole thing is probably a nothing burger. A cry baby headline because Sony is the current corporate punching bag for headlines, because actual idiots and man-children think the sky is falling over Sony corporate moving to producing micro lenses, instead of bluray discs for their favorite toy console.

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I would actually be totally fucking impressed beyond description, if the CEO of Sony, a fortune 500 company, was actually mentally-retarded enough to be blatantly "caught" doing this bullshit as it's being implyed or portrayed.

By default, it's seemingly beyond ridiculous. But dog piling Playstation for fucking around with the ability to hoard plastic seemingly has no limits when it comes to peripheral click bait headlines and articles driving traffic. Make hay while the sun shines, everybody.

 

[draigodon]

Hmm wonder who he sold the stocks to?

 

[Lokgamer]

Just one thing... Lol

 

[Kovlak]

Hmm wonder who he sold the stocks to?

Probably to whoever was willing to buy them in the stock market.

 

[PhaseJump]

Hmm wonder who he sold the stocks to?

It's a publicly traded company.