Solar City executives buy close to $20 million in stock


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Solar City executives buy close to $20 million in stock

Bobby Raines 10/24/2013

A trio of executives at Solar City ( SCTY ) , Barnard Hayden, CEO Lyndon Rive and director Elon Musk made purchases of the company's common stock on Oct. 21. All three bought their shares on $46.54. Barnard and Rive both bought 107,434 shares, while Musk bought 214,869 shares. All told, the three spent $19,999,961 to increase their holdings.

IK-> The technicals for SCTY ($60.10 up $2.27) are bullish with an upward trend. Recent support has been around $53.79 and recent resistance has been near $64.13. Standard & Poor's has a three STARs (out of five) rating on the stock. Look at the Dec. 35/38 bull-put spread for a 25-cent credit. That's a 9.09% return and the stock has to fall 36.8% to cause a problem.  [InvestorsKeyhole, Various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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