Westend61/Getty Images
- Family members behind Koss Corp. have sold $31 million of shares, according to analysis by CNBC.
- Koss shares have run higher during the short-squeeze rally that has enveloped Wall Street.
- Shares apparently were sold for between $19 and $60, according to SEC filings
- Visit the Business section of Insider for more stories.
Koss family members, part-owners of headphones maker Koss Corp., as well as company executives and directors, sold more than $44 million in the company’s shares, according to CNBC analysis, as the price swelled during the recent run-up fueled by retail investors.
The sales have taken place over the past week. Members of the family sold $31 million of the stock, according to CNBC’s report Thursday based on filings with the US Securities and Exchange Commission. That amount was more than the market capitalization of roughly $26 million before the shares jumped in price.
The shares appear to have been sold for between $19 and $60 each, with the report Thursday noting the stock closed last Friday’s session at $64. Koss shares opened in 2021 at $3.31 and hit an intraday high of $127.45 on January 28.
The stock on Thursday traded above $18 each and market capitalization stood at around $195 million.
Shares of Koss have been among those that have caught the eye of retail investors who, in recent sessions, have been identifying and buying heavily shorted stocks. The moves cause prices to rise, forcing short sellers to cover their positions and exit the trades. Retailer Gamestop has become the marquee stock that retail investors have defended against short sellers.
The Koss family owned about 75% of Koss Corp., according to the report.