Funcom CEO sells company stock
Sure it may be completely innocent, but it's interesting nonetheless. According to a recent announcement, Funcom's CEO Trond Aas has recently sold 400,000 shares of his company's stock. The announcement also states that these shares were sold "primarily to cover Mr. Aas' acquisition costs of the shares as well as accumulated wealth tax costs of the past six years as a result of the holdings in Funcom." This 400,000 number represents only a fraction of the shares owned by the CEO.
While this Brighthub article tends to focus on the timing of the sale, pointing out that Age of Conan has already lost nearly half of its customers, no official connection has been made. However, the stock's price has fallen quite dramatically lately, closing at $13.60 per share on August 22, 2008, which is down from $55.50 per share on Age of Conan's release in May.
Update: This is a take on the Brighthub article more than anything, blaming AoC for everything, not to be confused with this original post. Plus, we get a look at the actual announcement about the stock sales itself. Sorry for any confusion of duplicates.
