Camping World CEO, Marcus Lemonis, has joined the Big Boys. You can put Marcus on the same list as Jeff Bezos and Mark Zuckerberg. No, Marcus may not have the big billions of these other two, but he has joined them in one thing: Marcus Lemonis just sold off millions of dollars’ worth of his own stock.
Presto—stock into cash!
A Securities and Exchange Commission (SEC) filing reveals that on March 15, Lemonis dumped 100,000 shares of Camping World Class A Common Stock. His net? $2.5 million dollars. Presto—stock into cash. Lemonis still owns “a substantial” amount of Camping World stock, but still, it raises the question: Why the big sale?
In the fishpond, Lemonis is still fairly small fry. Zuckerberg leads the pack in recent months in terms of stock dumping. He has cashed out $638 million in company stock in his sales since February. Still, Lemonis’ sale is nothing to sneeze at.
Marcus Lemonis just sold off millions of dollars’ worth of his own stock—part of a bigger trend?
It could be a trend. When 2023 ended, Warren Buffett shored up his cash and cash-equivalent holdings by $60 billion in just 15 months. One alternative investment firm published this thought on the matter: “Steve Hanke, noted economist and professor of applied economics at Johns Hopkins, says this is a sign Buffett thinks a recession could be coming, saying, ‘The cash hoard tells us one big thing: Buffett doesn’t think there’s much out there that’s worth buying.’”
Bezos, Zuckerberg, and Buffett have bolstered their cash. Marcus Lemonis just sold off millions of dollars’ worth of his own stock. Does that mean we’re headed for recession? Maybe. Maybe not. Still, it’s always a good time to “recession proof” yourself. Like the financial gurus suggest, dump your debt, set up a budget, keep your powder dry, and your emergency fund liquid. And for heaven’s sake, if you’re going to buy an RV, don’t go with Marcus’ 20-year-payment-purchase plan.
##RVT1149b
Common activity for CEOs. Nothing to alter one’s own investment strategies over.
When Lou Gerstner was CEO at IBM, he did two $50M stock cash outs every year for the ten years he was there (I know…peanuts compared to some.) A cool Billion on top of salary and other benefits over his ten year tenure. Just like everyone should, these execs divest and diversify as needed.
I tend to agree with you on this Mikal. Not uncommon to cash up from stock sales for CEOs. I do feel that the potential for recession is pretty strong with the 3 rate cuts projected for 2024 and inflation having ticked up .6%, but I’m still with you on not divesting. Happy travels.
Hmmm, I don’t know enough about this market to come up with a smart a$$ response to this information.🤔
Thank you, Russ and Tina! 🙂 Well, I certainly didn’t buy any of his Camping World stock. I wonder who did, who would? Certainly no RVer would. Well, safe travels! 🙂
As always just another attack on Camping World. How scary!!!! He did something CEOs and others do all the time. Why don’t you research and post something worthwhile for RVers instead of the usual “we don’t have much to say so let’s bash CW” crap? The sky is falling, the sky is falling! No it’s just a rainy day with a rainbow if you look outside.
I completely agree with you. Well said.
The articles about Camping World sound like everything coming out the mouths of jealous, intolerant people who want you to agree with them or else they won’t let you be their friend. I don’t care if someone likes camping world or not. Stop the camping world slams. I’d rather boycott Target for not having my size women’s swimsuit with a tuckable pocket for my mandaballs.
Probably a common occurrence. However, he may be reading the tea leaves about the slow down in the general RV industry.
Just enough to Buy a Brand New Newell Motorhome and hit the Road!
Could be he bought an RV. Maybe a luxury condo. Possibly he had gambling debts. How about a really nice vacation? Or a super expensive tattoo. Or….this piece is nonsense.
It’s called diversification. Whatever he may think about the future of CW it makes sense to cash out some of the growth and invest in other things. In my days as a Financial Planner that was my recommendation to any client who had a large holding in any one company, especially if that was the company where the salary was also coming from. If everything I owned was tied to one industry I would be looking to move some to other companies in other industries.
Maybe because CW is quickly going down the toilet and the stocks are tanking?? Makes sense to me.