Barnes & Noble stock fell almost 12 percent on Thursday following the disclosure of chairman Len Riggio’s big sale of 3.7 million shares, reducing his stake to roughly 20 percent (down from 30 percent at the beginning of December). Trading finished at $16.37 a share on heavy volume of 9.4 million shares, but now investors have a long weekend to cool off. While the recent sales by Riggio and Lberty Media have weighed on the company’s stock price, it had been usually high up until those sales — which made it easier for these big investors to sell. “Several weeks […]
