Business

Barnes & Noble, Gamestop Chief Pulls Some Shady Stock Sales

By Matt Buchanan on October 14, 2009 at 11:46 PM

The only reason I knew Barnes & Noble owned Gamestop is that in high school I’d use my friend’s discount at Barnes & Noble all the time, even though he worked at Gamestop. Interesting right? More interesting: Leonard Riggio, chairman of B&N and director of Gamestop just dumped $US60 million in Gamestop stock. The last time he did this, it preceded bad financial news for Gamestop, so it doesn’t look good, to say the least.

An analyst told Barron’s that he’s “got a lot bigger stake in Barnes & Noble. Clearly he thinks selling GameStop is better than selling Barnes & Noble.” One could definitely say that. [Barron's via GamaSutra via Kotaku]

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