Tesla Says Short Seller Is Funding Ex-Employee’s Lawsuit (Bloomberg)
Tesla Inc. says hedge fund Cable Car Capital LLC, which is shorting the company’s stock, is funding a former employee’s allegations that the company smeared him by accusing him of sabotage and stealing sensitive information. The carmaker said in a filing Monday that Martin Tripp’s 2018 counterclaim against Tesla was being funded by Cable Car, even though Tripp has said under oath that he had no financing or connection to Tesla short sellers.
$34 Billion Citadel Poaches a Rising Star from Billionaire Lee Ainslie’s Maverick Capital to Join its Ashler Stock-Picking Unit (Business Insider)
A rising star at Maverick Capital has been poached by billionaire Ken Griffin. Ben Bologna, the head of the consumer sector for billionaire Lee Ainslie‘s Maverick, is joining $34 billion Citadel‘s Ashler Capital, one of the three stock-picking units at Griffin’s Citadel, Griffin’s firm confirmed to Business Insider.
Sales Conversation Analytics Company Gong Raises $200 million at a $2.2 Billion Valuation (CalcalisTech.com)
The mega-round, led by New York-based hedge fund Coatue Management, comes less than a year after Gong’s $65 million round in December. Israel-based conversation analytics startup Gong.io Ltd. has raised $200 million in a series D round made at a $2.2 billion valuation, the company announced Wednesday. “We would rather see the world doing better even if that means we make a little less money, but it is clear that the current situation gives Gong some tailwind,” co-founder and CEO Amit Bendov said in a phone interview with Calcalist.
Wednesday 8/12 Insider Buying Report: UPWK, VIRT (Nasdaq.com)
At Upwork, a filing with the SEC revealed that on Tuesday, Director Gregory C. Gretsch purchased 547,844 shares of UPWK, at a cost of $14.71 each, for a total investment of $8.06M. Upwork is trading up about 3.5% on the day Wednesday. Before this latest buy, Gretsch bought UPWK on 2 other occasions during the past year, for a total cost of $6.61M at an average of $9.54 per share. And also on Tuesday, Chief Executive Officer Douglas A. Cifu bought $2.25M worth of Virtu Financial, buying 100,000 shares at a cost of $22.45 a piece. Virtu Financial is trading up about 2.6% on the day Wednesday. So far Cifu is in the green, up about 5.2% on their purchase based on today’s trading high of $23.63.
The CFO of Iridium Communications (NASDAQ: IRDM) is Selling Shares (Analyst Ratings)
Yesterday, the CFO of Iridium Communications (IRDM), Thomas Fitzpatrick, sold shares of IRDM for $1.01M. Following Thomas Fitzpatrick’s last IRDM Sell transaction on June 05, 2013, the stock climbed by 21.8%. In addition to Thomas Fitzpatrick, 5 other IRDM executives reported Sell trades in the last month.
Sure Bezos Sold Some Amazon Stock, but That Doesn’t Mean You Should (Investorplace.com)
When Amazon (NASDAQ:AMZN) CEO Jeff Bezos does just about anything, it’s a major news item. After all, he’s one of the richest people on the planet. And when Bezos buys or sells AMZN stock shares, people pay attention. It’s also a matter of public record when a corporate insider such as Bezos buys or sells large amounts of his own company’s stock. It’s a smart idea for insiders to keep tabs on this activity. Sometimes it’s a genuine cause for concern when an insider unloads a large quantity of his or her company’s stock shares.
