Chairman tells his board he sold 150,000 shares of his stock to buy himself yacht

If nothing else, maybe you've just got to appreciate this Australian Chairman's honesty?

Marcus Blackmore, Chairman of Blackmores, a leading Australian vitamin and natural health company, told his board in a letter that he sold 150,000 shares of the company to "reduce his personal debt" and buy a yacht (h/t Bloomberg's Matt Levine).

The letter was dated March 13th, on March 12th Blackmores' stock looked like this...

yacht money blackmore chart

Yahoo Finance

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