Focus Media (FMCN) Slashed On CEO Stock Sale Rumor
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The massive weakness seen Monday in shares of Focus Media (Nasdaq: FMCN) is apparently related to rumors the CEO is entering into a forward contract to sell a large slug of stock. Some sell-side firms have come out to defend the name, calling the rumors false.
Shares of Focus Media are off the day's lows, but still down 14 percent.
Shares of Focus Media are off the day's lows, but still down 14 percent.
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