Electronic Arts CEO John Riccitiello must be a very confident man, despite his company suffering an alleged $310 million dollar loss. The silver-haired Lothario has just plonked down $1 million topurchase EA stock.
42,500 shares have just been bought by the CEO, a move which followsthe revelationthat massive layoffs had been instigated within the company. Riccitiello remains clear that “the sky isn’t falling” on EA, but that the publisher is attempting to safeguard itself against the recession and manage its costs.
While this seems like a huge purchase on Riccitiello’s part, remember that Electronic Arts stock has recently dropped to its lowest price in eight years — a mere $24.50 . This means that he is, in fact, a cheap bastard. At less than twenty five bucks a pop though, I’m tempted to buy a share myself, just for a laugh.
