Dish Network's stock surged to lead the S&P 500 gainers after co-founder Jim DeFranco spent nearly $16 million to increase his stake in the company.
Shares of Dish Network Corp. got a big boost Tuesday, after the pay-TV services company disclosed that co-founder Jim DeFranco had bought nearly $16 million worth of the company’s stock a few days before it closed at a 14-year low.
According... Shares of Dish Network Corp. got a big boost Tuesday, after the pay-TV services company disclosed that co-founder Jim DeFranco had bought nearly $16 million worth of the company’s stock a few days before it closed at a 14-year low. According to a Form 4 filing with the Securities and Exchange Commission late Monday, DeFranco bought 1.45 million Dish shares on March 2 at a price of $10.84, for a value of $15.72 million. The stock traded in an intraday range that day of $10.64 to $11.13, before closing at $10.98.DeFranco co-founded the company in 1980 with Charlie Ergen and Cantey Ergen. He is currently one of the company’s executive vice presidents and a member of Dish’s board of directors.
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