As Price Falls, Live Nation CEO Rapino Buys $1 Million Worth of Shares
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billboard.comLive Nation chief executive Michael Rapino has purchased $1 million worth of stock in the company he has built since 2005, according to a recent filing with the Securities and Exchange Commission on Thursday (March 12).The stock purchase comes on a brutal day for the stock market, with the Dow Jones Industrial Average dropping nearly 10% or about 2,352 points -- the biggest one-day drop in 33 years.
Both the S&P 500 and the Nasdaq, where Live Nation is listed, were each down more than 9%.Live Nation's stock was battered by the selloff, dropping 16.6% as the Nasdaq approached bull market conditions, ending the day at $36.20 per share, a 52% drop from a high of $76.08 on Feb.
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