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Mad Catz CEO Cashes Stock

| 26 Jun 2007 17:04
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After a series of new products, licensing agreements and an incredible financial performance, Mad Catz's CEO sells shares at the top of the market.

Darren Richardson, President and Chief Executive Officer of game peripheral manufacturer Mad Catz, reported the sale of 149,905 shares of his company's stock. A reported 49,905 shares were traded at the stock's peak prices at $1.59 apiece on Tuesday, June 19 and an additional 100,000 shares for $1.58 on Wednesday, June 20, tallying up $237,348.95 from both transactions.

Shares of Mad Catz have skyrocketed based on a handful of game paraphernalia deals, including Halo 3 merchandise. In the past year, the stock has risen 245 percent, from $.37 to $1.27. Richardson's act can hardly be seen as anything less than profit-taking after delivering stellar financial and product performance.

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