Sapphire supplier GTAT CEO sells stocks on the eve of iPhone6 ​​release

On the morning of October 8, the day before Apple announced that the iPhone 6 would not use the sapphire screen produced by GTAT, the CEO of the supplier sold more than 9,000 GT shares and realized $160,000 (equivalent to RMB 982,200). .

GTAT CEO Thomas Gutierrez sold the stock at an average price of $17.38 on September 8. When Apple announced the news the next day, GT shares fell 13% to close at $14.94.

On October 6, GTAT filed for bankruptcy protection, and its share price plummeted 93% to $0.80.

Before the release of Apple's iPhone, GTAT's share price has doubled in the past 12 months, mainly because Apple's rumors of using sapphire screens create optimism.

GTAT said in the regulatory filing that Gutierrez's stock sell-off plan was scheduled on March 14, 2014, but there is no obvious rule for his sell-off.

In May, June and July of this year, Gutierrez chose to sell stocks in the first three days of the month, but by September, he had waited until September 8 to sell stocks. Two days ago, he had just been restricted before. The sale of 15,902 shares (he gave up 6670 shares to pay taxes).

Gutierrez did not sell any GTAT stocks in 2013. Since February this year, he has sold 700,000 shares, worth more than 10 million US dollars (equivalent to about 61.39 million yuan).

A GTAT spokesperson has not responded.

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