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Publishing date: Feb 04, 2021 • February 4, 2021 • 1 minute read •
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The family behind Koss Corp and some of the company’s top executives raked in about $45 million from a surge in the headphone maker’s stock price during a retail trading blitz that rocked Wall Street last week.
Retail investors, egged on by Reddit thread WallStreetBets, sent shares of heavily shorted companies such as GameStop Corp and AMC Entertainment through the roof, leading to what is called as a short squeeze.
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Feb 4 (Reuters) - The family behind Koss Corp and some of the company’s top executives raked in about $45 million from a surge in the headphone maker’s stock price during a retail trading blitz that rocked Wall Street last week.
Retail investors, egged on by Reddit thread WallStreetBets, sent shares of heavily shorted companies such as GameStop Corp and AMC Entertainment through the roof, leading to what is called as a short squeeze.
Michael Koss, who heads the company, took home about $12.9 million from the stock sale this week, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.