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Nice timing: Merrill's John Thain is already up over $2 million on the stock he bought on Tuesday

Merrill Lynch's John Thain bought 500K shares of stock in Tuesday's offering at $22.50 a share.  With the stock closing at $26.65, he's up over $2 million on paper.  Other insiders who have so far profited handsomely are Merrill president Greg Fleming and brokerage head Robert McCann.  Each of them bought 100K shares.

Thain Bought $11.3 Million of Merrill Stock in Sale - Bloomberg

July 31, 2008 in Credit Crunch, John Thain, Merrill Lynch |

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