Board Gore and his money

Written by CCD News.

Image representing Apple as depicted in CrunchBase

Image via CrunchBase

A little story that many in the MSM missed was the fact that Gore bought $29 million worth of Apple stock a week or so ago. Being on Apple's board of directors, Gore only paid $7.50 per share, a far cry from the then going rate of $500 a share. Is it a good time to invest in Apple? Consider this: Gore bought 60,000 shares of Apple stock in 2008 when it was valued at $124 for the same price. This was just before major announcements from Apple, which shot it's stock up to nearly $800 a share in 2012. Methinks a call to my broker may be prudent.

Gore this week bought roughly $29 million worth of Apple Inc. (NASDAQ:AAPL) stock for pennies on the dollar, making him even richer than ever.

A U.S. Securities and Exchange Commission Form 4 filed on Thursday shows Gore exercised his option as an Apple director to purchase 59,000 shares of the company for $7.475 a stub on Tuesday. Apple closed at $500 per share on Friday. This means Gore paid $441,025 for stock now worth $29.5 million. Sure beats government work.

…snip…

This isn’t the first time Gore has exercised his option to buy Apple stock at bargain-basement prices, and it most likely won’t be the last. The Next Web reported that Gore purchased 60,000 shares of the company for the same price in 2008. At that time, Apple was trading for about $124 per share.

Comments  

 
Sierra Tango
# Sierra Tango 01-31-2013 19:41
As much as I dislike Gore, I think he gets a pass on this. Most likely he is exercising options he was awarded years ago. If these were 2002 options $7.50 was about what Apple was selling for. And if the
options had a ten year term he had to use it (exercise it) or lose it.
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John K
# John K 02-02-2013 13:45
Read the article linked above at The next web. He also bought this latest round before apple's earnings report which was positive. Anne's comment is correct on many levels. He's a megalomaniac mogul with an agenda he profits from.
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anne
# anne 02-01-2013 01:23
Personally I think it shows Gore's total ignorance and obliviousness to what he says and what he does, he is the one wh preaches us that all us little people consume to much, drive to much, fly too much, all in all use too much of everything whilst producing too much 'CO2' in the meantime he buys another mansion by the sea whilst warning us the sea will rise hundreds of feet! He has private jets, 8 limo's etc., etc.,
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