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.

Originally published on InvestorsObserver.com



This article appears in: Investing , Options


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