This is the largest natural gas company in the world. Not unlike the Russian Oligarchs, he was forced to basically blow out of his entire position... he was buying his own stock on margin.
"I am very disappointed to have been required to sell substantially all of my shares of Chesapeake," McClendon said... "These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis."
Daryl Jones
Research Edge LLC
"I am very disappointed to have been required to sell substantially all of my shares of Chesapeake," McClendon said... "These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis."
Daryl Jones
Research Edge LLC
- Chesapeake Energy CEO Aubrey McClendon sells bulk of his stock to meet margin calls
OKLAHOMA CITY (AP) -- Aubrey K. McClendon, chief executive of Chesapeake Energy Corp., has sold the bulk of his stock in the company over the past three days in order to meet margin loan calls, the company said Friday.
chart courtesy of stockcharts.com