In a recent transaction disclosed in an SEC filing, Donnez Karim, the Chief Executive Officer of LiveWire Group, Inc. (NYSE:LVWR), sold a significant portion of his holdings in the company. On December 12, 2024, Karim sold 54,952 shares of LiveWire's common stock. The sale was executed at a weighted average price of $5.5194 per share, with individual sale prices ranging from $5.50 to $5.69. The total value of the shares sold amounted to approximately $303,302. The transaction comes as LiveWire's stock has declined nearly 51% year-to-date, according to InvestingPro data.
Following this transaction, Karim retains ownership of 398,293 shares in the company. This sale is part of routine financial management and does not necessarily indicate any change in the executive's confidence in the company's future performance. While the company maintains strong liquidity with a current ratio of 3.54 and more cash than debt on its balance sheet, InvestingPro analysis reveals 10+ additional key insights about LiveWire's financial health and market position. Access the comprehensive Pro Research Report covering 1,400+ US stocks for detailed valuation metrics and expert analysis.
In other recent news, Harley-Davidson (NYSE:HOG) reported a decline in its Q3 2024 earnings call, attributing the downturn to a challenging market environment. The company experienced a 13% drop in global retail sales of new motorcycles and a significant 26% decrease in consolidated revenue. Despite these challenges, Harley-Davidson's financial services (HDFS) saw a 10% increase in revenue. The company has revised its full-year outlook due to these recent developments.
In the same vein, Harley-Davidson's electric vehicle division, LiveWire, has adjusted its yearly unit expectations to 600-1,000 motorcycles in response to market difficulties. LiveWire, in collaboration with KYMCO, a leader in powersports, is also planning to develop its first electric maxi-scooter, targeting the European market. This new development in the electric mobility sector represents a significant step for both companies as they leverage their combined strengths to innovate and meet the growing demand for electric transportation solutions.
These are some of the recent developments that investors should be aware of. It's important to note that these changes reflect the current market conditions and the company's strategic response to them. However, despite the challenges, Harley-Davidson maintains its commitment to long-term strategies, including a focus on cost productivity measures and electrification.
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