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Robbie Bach sells $6.2 Million in Xbox shares

Robbie Bach sells $6.2 Million in Xbox shares

Robbie Bach is rumoured to have sold off $6.2 million of Xbox shares based on insider information, allegedly.

It may have everything to do with last week's announcement, or it may be completely innocent, but Robbie Bach, President of Microsoft's Entertainment Division, recently sold off a sizeable chunk of Xbox shares.

Originally reported by Gamesindustry.biz Robbie Bach sold shares to the value of a massive $6.2 million in the Xbox 360 line between May 2nd and the 6th of July.

Now, there's nothing immediately suspect about this - Robbie is allowed to sell his shares whenever he wants - but they usually make sure they schedule such sales just so that everyone knows they aren't trading based on some insider information.

Unfortunately, Robbie didn't schedule his sales, which is what has made everyone so curious as to why he sold off these shares right before Peter Moore pledged $1 billion in order to fix the undeniably broken Xbox 360 design. Now, sure, maybe Robbie just forgot to schedule it all, but it's still eyebrow-raising because he's not sold a single stock in the eight months prior to this.

Microsoft has been quick to respond to curious journalists, issuing the following response:

"Robbie Bach's past trading is completely unrelated to last week's announcement. ... [He] continues to hold a significant stake in Microsoft and remains confident in the long-term success of the company."

Hmm. Maybe Microsoft's representatives are right. Then again, the company did respond awfully quick...

Speculation and baseless rumours continue in the meantime, but we'll be sure to keep you updated if any new information is revealed because, lets face it, everybody loves to hate a winner like Microsoft.

Got a tip for us, or maybe you bought up some of those shares? Either way, we want to know what you think in the bit-tech community.

10 Comments

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DXR_13KE 12th July 2007, 13:39 Quote
i smell a conspiracy theory brewing........
Buzzons 12th July 2007, 14:06 Quote
gambling debt that needed paying off probs :p
Veles 12th July 2007, 15:22 Quote
I wouldn't be surprised if xbox stocks went down after they had to pay up 1 billion to fix a problem that shouldn't have been there in the first place.
devdevil85 12th July 2007, 17:15 Quote
Not looking good for M$. The guy who started it all is selling his stocks.....in a way it's fun hating M$, but at the same time they need to be there and the same goes for Sony......the Wii is just the red-headed step-child tbh so it doesn't count because everyone loves Nintendo.....
DXR_13KE 12th July 2007, 17:20 Quote
Quote:
Originally Posted by devdevil85
because everyone loves Nintendo.....

except those who hate it.
devdevil85 12th July 2007, 19:14 Quote
Quote:
Originally Posted by DXR_13KE
except those who hate it.
You hate Nintendo???? hehe....
DXR_13KE 12th July 2007, 20:09 Quote
Quote:
Originally Posted by devdevil85
You hate Nintendo???? hehe....

nope.....

but there are people that do hate it...
EQC 12th July 2007, 20:49 Quote
I'm not sure why most of the news posts are listing this as "stock in the Xbox 360"...I think it's stock in Microsoft, if I'm not mistaken. If I am mistaken, then I'm just surprised to learn that you can actually buy stocks in the XBox 360 -- I thought you could only buy stock in companies like Microsoft...and that you could not choose to own stocks connected to only specific products of those companies.

It's also interesting to note that this stock sale took place between May 2 and July 6 -- that's a 2-month period. During that 2 month period, I think many people may have seen the failure rate of the 360 (it has been all over the internet for quite some time) and foreseen major expenses for Microsoft and perhaps a reason to sell shares...
2JSC 13th July 2007, 02:55 Quote
Keep your eyes out for any large buys in the Sony or Nintendo stock areas! :D
Iago 16th July 2007, 10:06 Quote
Where's the mystery or conspiration? Robbie Bach, President of Microsoft's Entertainment Division didn't knew that MS was devoting 1$ Billion to X360 repairs? Is it just a big, totally unrelated coincidence that he decided to sell just prior to MS's announcement?

Yeah, sure. If someone believes that, I've got a nice bride (with a Wii on top) to sell them.
Quote:
Originally Posted by devdevil85
You hate Nintendo???? hehe....
I do. I bought into the Wii hype and now I feel cheated. Nintendo has sold me a 250€ party game (Wii Sports) and that's all there is to it. And for all the talk about the OMGincredible! wii demand out there, it's taking me a while to find any buyers...
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